Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 27.9% | 19.2% | 23.8% | 28% | 29.4% | ||
| 27.9% |
| 29.7% |
| EBITDA margin % | 11.4% | -2.6% | -5.2% | 7.1% | 7.6% | 7.2% | 10.2% |
| EBIT margin % | 10.4% | -4.8% | -8.2% | 4% | 4.2% | 4.7% | 8% |
| PAT margin % | 8.6% | -2.8% | -7.9% | 0.6% | 1.3% | 2.5% | 5.2% |
| Working capital | |||||||
| Receivable days | — | 29 | 23 | 19 | 33 | 27 | 30 |
| Inventory days | — | 78 | 80 | 66 | 74 | 62 | 58 |
| Payable days | — | 71 | 65 | 47 | 39 | 47 | 50 |
| NWC days | — | 36 | 38 | 38 | 69 | 42 | 38 |
| Leverage | |||||||
| Current ratio | — | 1.4 | 1.19 | 1.21 | 1.67 | 1.8 | 1.58 |
| Debt to EBITDA | — | — | — | 4.7 | 3.61 | 2.09 | 1.72 |
| Debt to equity | — | 0.05 | 0.68 | 0.49 | 0.34 | 0.25 | 0.3 |
| Interest coverage | 65.9 | -14.3 | -3 | 1.4 | 1.8 | 3.6 | 7.3 |
| Asset turnover | — | 0.76 | 0.58 | 0.84 | 0.8 | 1.06 | 1.07 |
| Return ratios | |||||||
| Return on assets % | — | -2.1% | -4.6% | 0.5% | 1.1% | 2.7% | 5.6% |
| Return on capital employed % | — | -4% | -6.9% | 5.3% | 5.1% | 7.2% | 12.6% |
| Return on equity % | — | -2.7% | -9% | 0.9% | 1.7% | 4.2% | 8.9% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.