Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 46.2% | 47.8% | 49.6% | 54.7% | 55.8% |
| EBITDA margin % | |||||
| 9% |
| 13% |
| 11.1% |
| 10.8% |
| 8.3% |
| EBIT margin % | 6.1% | 10.9% | 8.6% | 6.4% | 4.5% |
| PAT margin % | 0.7% | 6% | 4.3% | 1.8% | 0.3% |
| Working capital | |||||
| Receivable days | — | 72 | 71 | 93 | 104 |
| Inventory days | — | 132 | 149 | 210 | 303 |
| Payable days | — | 115 | 97 | 112 | 167 |
| NWC days | — | 88 | 123 | 191 | 239 |
| Leverage | |||||
| Current ratio | — | 1.39 | 1.4 | 1.31 | 1.14 |
| Debt to EBITDA | — | 1.19 | 1.53 | 3.25 | 4.72 |
| Debt to equity | — | 0.92 | 0.76 | 1.29 | 1.64 |
| Interest coverage | 1.2 | 3.7 | 3.6 | 1.6 | 1.1 |
| Asset turnover | — | 1.72 | 1.56 | 1.07 | 0.96 |
| Return ratios | |||||
| Return on assets % | — | 10.3% | 6.8% | 1.9% | 0.3% |
| Return on capital employed % | — | 44.7% | 38.5% | 18.5% | 12.5% |
| Return on equity % | — | 35.4% | 19.5% | 6.6% | 1.3% |
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.