Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 15.5% | 18.9% | 17.7% | 22.1% | 31.7% | 40.9% |
| EBITDA margin % | 8.8% | 9.2% | 8.8% | 11.2% | 13.8% | 21.3% |
| EBIT margin % | 6.5% | 6.8% | 5.9% | 6.5% | 9.2% | 16.5% |
| PAT margin % | 1% | 0.2% | 0.1% | 2.9% | 4% | 10% |
| Working capital | ||||||
| Receivable days | 73 | 79 | 58 | 82 | 93 | 72 |
| Inventory days | 172 | 238 | 259 | 429 | 205 | 114 |
| Payable days | 92 | 136 | 150 | 322 | 152 | 70 |
| NWC days | 153 | 182 | 168 | 189 | 146 | 116 |
| Leverage | ||||||
| Current ratio | 1.47 | 1.22 | 1.16 | 1.05 | 0.81 | 0.92 |
| Debt to EBITDA | 4.31 | 3.86 | 5.02 | 5.58 | 9.12 | 2.52 |
| Debt to equity | 2 | 1.1 | 1.54 | 1.2 | 0.66 | 0.56 |
| Interest coverage | 1.3 | 1.3 | 1 | 1.3 | 1.6 | 2.4 |
| Asset turnover | 0.84 | 0.67 | 0.6 | 0.38 | 0.25 | 0.53 |
| Return ratios | ||||||
| Return on assets % | 0.8% | 0.2% | 0.1% | 1.1% | 1% | 5.2% |
| Return on capital employed % | 12% | 10.3% | 9.7% | 13.3% | 7.5% | 13.4% |
| Return on equity % | 5.2% | 0.8% | 0.4% | 5.5% | 2.1% | 10.3% |
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.