Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 12.4% | 10% | 10.3% | 11.7% | 11.8% | 10.5% |
| EBITDA margin % | 3.6% | 3.2% | 2.9% | 2.2% | 3.9% | 2.9% |
| EBIT margin % | 2.9% | 2.6% | 2.2% | 1.5% | 3.3% | 2.3% |
| PAT margin % | 2% | 1.5% | 1% | 0.3% | 1.9% | 1.4% |
| Working capital | ||||||
| Receivable days | 15 | 15 | 12 | 13 | 14 | 13 |
| Inventory days | 54 | 58 | 54 | 58 | 56 | 45 |
| Payable days | 58 | 69 | 60 | 56 | 56 | 18 |
| NWC days | 10 | 4 | 6 | 14 | 14 | 40 |
| Leverage | ||||||
| Current ratio | 1.05 | 1.24 | 1.24 | 1.22 | 1.25 | 1.26 |
| Debt to EBITDA | 2.23 | 1.48 | 1.34 | 2.13 | 0.69 | 0.38 |
| Debt to equity | 0.89 | 0.34 | 0.27 | 0.29 | 0.18 | 0.08 |
| Interest coverage | 2.9 | 3 | 2 | 1.4 | 3.2 | 3 |
| Asset turnover | 2.78 | 2.54 | 2.77 | 2.59 | 2.84 | 3.02 |
| Return ratios | ||||||
| Return on assets % | 5.5% | 3.8% | 2.8% | 0.7% | 5.5% | 4.2% |
| Return on capital employed % | 23.2% | 23.7% | 17.6% | 11.4% | 23.1% | 18.2% |
| Return on equity % | 22.1% | 10.6% | 7.1% | 1.8% | 13% | 10% |
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.