Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 48.9% | 48.3% | 44.5% | 40.9% | 43.3% | ||
| 41.5% |
| 42.6% |
| EBITDA margin % | 9.3% | 13.4% | 11.1% | 6.4% | 3.7% | 1.6% | 0.3% |
| EBIT margin % | 5.5% | 9.9% | 7.8% | 3.2% | 0.1% | -2.4% | -3.8% |
| PAT margin % | 4.2% | 8.5% | 6% | 2.8% | 1% | -0.9% | -3.2% |
| Working capital | |||||||
| Receivable days | — | 12 | 11 | 13 | 17 | 20 | 20 |
| Inventory days | — | 113 | 134 | 121 | 136 | 118 | 117 |
| Payable days | — | 74 | 69 | 60 | 75 | 74 | 75 |
| NWC days | — | 50 | 76 | 75 | 78 | 64 | 62 |
| Leverage | |||||||
| Current ratio | — | 1.28 | 1.36 | 1.36 | 1.41 | 0.97 | 0.84 |
| Debt to EBITDA | — | 1 | 0.73 | 1.83 | 4.4 | 12.12 | 89.16 |
| Debt to equity | — | 0.41 | 0.25 | 0.33 | 0.44 | 0.59 | 0.77 |
| Interest coverage | 4.3 | 11.4 | 24.2 | 7 | 1 | -0.8 | -1.3 |
| Asset turnover | — | 1.44 | 1.58 | 1.47 | 1.23 | 1.24 | 1.21 |
| Return ratios | |||||||
| Return on assets % | — | 12.3% | 9.5% | 4.1% | 1.3% | -1.1% | -3.9% |
| Return on capital employed % | — | 22.5% | 21.1% | 8.9% | 2% | -3.1% | -4.9% |
| Return on equity % | — | 26.1% | 18% | 7.8% | 2.8% | -2.7% | -10.8% |
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.