Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 80.6% | 75.6% | 67.5% | 81.5% | 71.6% | 69.4% | 64.1% |
| EBITDA margin % | 10.5% | 13.4% | 11% | 12.7% | 10.3% | 9.4% | 5.2% |
| EBIT margin % | 6.6% | 9.3% | 7.8% | 8.7% | 7.1% | 6.5% | 2.6% |
| PAT margin % | 3.8% | 1.6% | -2.6% | 2.9% | 3.1% | 2.5% | 0.1% |
| Working capital | |||||||
| Receivable days | 30 | 38 | 26 | 27 | 27 | 33 | 42 |
| Inventory days | 183 | 209 | 157 | 434 | 201 | 190 | 146 |
| Payable days | 281 | 195 | 91 | 231 | 114 | 98 | 110 |
| NWC days | -68 | 53 | 92 | 230 | 114 | 126 | 78 |
| Leverage | |||||||
| Current ratio | 0.68 | 0.8 | 1.06 | 1.02 | 1.19 | 1.26 | 1.16 |
| Debt to EBITDA | 5.84 | 5.46 | 4.03 | 2.65 | 2.02 | 1.69 | 2.69 |
| Debt to equity | 0.87 | 0.92 | 0.72 | 0.54 | 0.4 | 0.26 | 0.23 |
| Interest coverage | 1.1 | 1.4 | 1.7 | 1.8 | 2.7 | 2.6 | 1.7 |
| Asset turnover | 0.58 | 0.5 | 0.76 | 0.78 | 1 | 0.95 | 1.01 |
| Return ratios | |||||||
| Return on assets % | 2.2% | 0.8% | -2% | 2.2% | 3.1% | 2.4% | 0.1% |
| Return on capital employed % | 6.3% | 7.4% | 8.8% | 11% | 13.1% | 9.4% | 4.7% |
| Return on equity % | 5.3% | 2% | -4.2% | 4.6% | 6% | 4.1% | 0.2% |
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.