Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 26% | 25.7% | 13.4% | 13.2% | 16.2% | 24.4% | 25.9% |
| EBITDA margin % | 21.3% | 20.9% | 8.1% | 9% | 11.8% | 19% | 19.7% |
| EBIT margin % | 16.4% | 16.6% | 3.9% | 5.2% | 8.7% | 15.9% | 16.3% |
| PAT margin % | 4.2% | 4.3% | -5.8% | -0% | 1.7% | 7.4% | 15.6% |
| Working capital | |||||||
| Receivable days | 135 | 42 | 36 | 48 | 39 | 46 | 67 |
| Inventory days | 134 | 147 | 152 | 133 | 126 | 149 | 189 |
| Payable days | — | 100 | 100 | 121 | 105 | 120 | 141 |
| NWC days | — | 89 | 88 | 60 | 60 | 74 | 115 |
| Leverage | |||||||
| Current ratio | 1.18 | 1.21 | 1.43 | 1.22 | 1.32 | 1.48 | 1.56 |
| Debt to EBITDA | 4.04 | 4.94 | 11.37 | 6.96 | 5.09 | 4.43 | 4.55 |
| Debt to equity | 2.66 | 3.09 | 2.47 | 1.67 | 1.66 | 1.88 | 1.18 |
| Interest coverage | 1.4 | 1.5 | 0.4 | 0.7 | 1.2 | 1.6 | 1.4 |
| Asset turnover | 0.58 | 0.55 | 0.59 | 0.69 | 0.72 | 0.57 | 0.48 |
| Return ratios | |||||||
| Return on assets % | 2.4% | 2.4% | -3.4% | -0% | 1.2% | 4.3% | 7.4% |
| Return on capital employed % | 16% | 15.9% | 3.8% | 6.7% | 12.9% | 16.9% | 15.3% |
| Return on equity % | 12.9% | 12.8% | -15.5% | -0% | 4.6% | 16.6% | 20.5% |
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.