Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 11.1% | 8.7% | 8.3% | 5.8% | 6.7% | 8.4% | 7.9% |
| EBITDA margin % | 3.4% | 2.4% | 2% | 1.4% | 2.4% | 2.6% | 3.2% |
| EBIT margin % | 3.2% | 2.2% | 1.8% | 1.3% | 2.3% | 2.5% | 3.1% |
| PAT margin % | 1.7% | 1.8% | 2.1% | 2% | 2.8% | 3% | 2.6% |
| Working capital | |||||||
| Receivable days | — | — | — | 24 | 31 | 49 | 76 |
| Inventory days | — | — | — | 23 | 18 | 24 | 25 |
| Payable days | — | — | — | 13 | 12 | 30 | 27 |
| NWC days | — | — | — | 34 | 37 | 42 | 75 |
| Leverage | |||||||
| Current ratio | — | — | — | 1.83 | 2.73 | 2.36 | 1.68 |
| Debt to EBITDA | — | — | — | 4.66 | 1.78 | 1.56 | 3.76 |
| Debt to equity | — | — | — | 0.76 | 0.34 | 0.24 | 0.89 |
| Interest coverage | 3.3 | 3.8 | 5.1 | 4.6 | 7 | 7.1 | 5 |
| Asset turnover | — | — | — | 4.78 | 4.74 | 3.34 | 2.88 |
| Return ratios | |||||||
| Return on assets % | — | — | — | 9.5% | 13.4% | 10% | 7.5% |
| Return on capital employed % | — | — | — | 32% | 36.8% | 26.3% | 29.2% |
| Return on equity % | — | — | — | 23.2% | 22.4% | 18.1% | 19.3% |
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.