Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 35.3% | 26.1% | 25.4% | 29.7% | 30.1% |
| EBITDA margin % | |||||
| 14.4% |
| 8.3% |
| 7.5% |
| 10.8% |
| 11.2% |
| EBIT margin % | 12% | 6.4% | 6.3% | 10% | 10.3% |
| PAT margin % | 5.1% | 1.5% | 2.7% | 6% | 10.9% |
| Working capital | |||||
| Receivable days | 230 | 214 | 190 | 219 | 237 |
| Inventory days | 106 | 100 | 96 | 61 | 71 |
| Payable days | 122 | 105 | 120 | 87 | 84 |
| NWC days | 214 | 209 | 166 | 193 | 224 |
| Leverage | |||||
| Current ratio | 1.43 | 1.58 | 1.54 | 1.59 | 2.14 |
| Debt to EBITDA | 3.36 | 5.41 | 4.78 | 3.21 | 2.07 |
| Debt to equity | 1.39 | 1.26 | 1.11 | 1.07 | 0.45 |
| Interest coverage | 2.2 | 1.4 | 1.8 | 3 | 3.3 |
| Asset turnover | 0.85 | 0.88 | 0.98 | 1.1 | 1.03 |
| Return ratios | |||||
| Return on assets % | 4.3% | 1.3% | 2.6% | 6.7% | 11.3% |
| Return on capital employed % | 27.1% | 15.6% | 18.1% | 31% | 23.6% |
| Return on equity % | 14.6% | 4.2% | 8.3% | 18.6% | 21% |
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.