Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.1% | 41.3% | 39.6% | 39% | 43.6% | 45.6% | 40.8% | 40.1% |
| EBITDA margin % | 7.4% | 8.3% | 5.9% | 5.1% | 9.9% | 10.2% | 8.8% | 8.9% |
| EBIT margin % | 6.3% | 6.9% | 4% | 1.7% | 6.7% | 6.9% | 6.3% | 6.9% |
| PAT margin % | 2.6% | 3% | -1.1% | -2.4% | 7.8% | 0% | 1.5% | 1% |
| Working capital | ||||||||
| Receivable days | 60 | 64 | 93 | 68 | 59 | 68 | 67 | 73 |
| Inventory days | 327 | 369 | 464 | 401 | 423 | 496 | 372 | 309 |
| Payable days | 83 | 67 | 113 | 101 | 74 | 134 | 121 | 120 |
| NWC days | 304 | 366 | 444 | 367 | 408 | 429 | 317 | 262 |
| Leverage | ||||||||
| Current ratio | 1.41 | 1.38 | 1.56 | 1.67 | 1.66 | 1.44 | 1.49 | 1.54 |
| Debt to EBITDA | 6.79 | 7.25 | 13.37 | 13.26 | 6.26 | 6.45 | 5.25 | 4.43 |
| Debt to equity | 0.95 | 1.25 | 1.27 | 1.46 | 1.27 | 1.31 | 1.06 | 1.09 |
| Interest coverage | 1.9 | 2.2 | 1.1 | 1.9 | 1.6 | 1.4 | 1.5 | 1.9 |
| Asset turnover | 0.82 | 0.8 | 0.61 | 0.74 | 0.79 | 0.71 | 0.88 | 1 |
| Return ratios | ||||||||
| Return on assets % | 2.2% | 2.4% | -0.7% | -1.8% | 6.2% | 0% | 1.3% | 1% |
| Return on capital employed % | 12.6% | 12.2% | 6% | 8.9% | 10.6% | 11.2% | 13.3% | 16.9% |
| Return on equity % | 5% | 6.2% | -1.8% | -5.1% | 16.1% | 0.1% | 3.5% | 2.8% |
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.