Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 8.1% | 18.6% | 28.3% | 24.5% | 29.3% | 30.3% |
| EBITDA margin % | 5.7% | 13.7% | 18% | 12% | 11% | 8% |
| EBIT margin % | 5.3% | 12.7% | 16.6% | 10.3% | 8.7% | 4.7% |
| PAT margin % | 4.1% | 8.7% | 11% | 5.7% | 3.9% | 0.7% |
| Working capital | ||||||
| Receivable days | 53 | 77 | 73 | 91 | 113 | 142 |
| Inventory days | 67 | 168 | 207 | 247 | 220 | 271 |
| Payable days | 72 | 105 | 88 | 149 | 154 | 133 |
| NWC days | 48 | 141 | 191 | 189 | 179 | 281 |
| Leverage | ||||||
| Current ratio | 1.49 | 1.36 | 1.35 | 1.21 | 1.37 | 1.53 |
| Debt to EBITDA | 0.53 | 1.59 | 1.78 | 2.78 | 2.33 | 4.33 |
| Debt to equity | 0.21 | 0.8 | 1.06 | 0.97 | 0.62 | 0.56 |
| Interest coverage | 11.7 | 10.3 | 7.5 | 3.1 | 2.5 | 1.2 |
| Asset turnover | 2.44 | 1.23 | 1.18 | 0.93 | 0.93 | 0.75 |
| Return ratios | ||||||
| Return on assets % | 10% | 10.6% | 13% | 5.3% | 3.6% | 0.5% |
| Return on capital employed % | 39.7% | 57.8% | 59.4% | 30.4% | 21.3% | 7.7% |
| Return on equity % | 28.6% | 31.8% | 36.4% | 16.4% | 9.2% | 1.2% |
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.