Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 48.5% | 37.3% | 36% | 29% | 38% | 35.7% |
| EBITDA margin % | 23.3% | 17.1% | 8.2% | -2.2% | 11.5% | 6.9% |
| EBIT margin % | 19.8% | 14.4% | 4.3% | -8.6% | 6.1% | 1.8% |
| PAT margin % | 13.9% | 9.7% | 12.3% | -11.4% | 1.1% | -2% |
| Working capital | ||||||
| Receivable days | 56 | 50 | 50 | 51 | 48 | 49 |
| Inventory days | 98 | 84 | 88 | 70 | 74 | 86 |
| Payable days | 27 | 26 | 17 | 31 | 22 | 27 |
| NWC days | 126 | 108 | 121 | 90 | 101 | 108 |
| Leverage | ||||||
| Current ratio | 1.91 | 1.95 | 1.69 | 1.27 | 1.52 | 1.44 |
| Debt to EBITDA | 0.89 | 2.65 | 8.89 | — | 4.49 | 7.71 |
| Debt to equity | 0.4 | 1.03 | 1.1 | 1.08 | 0.85 | 0.93 |
| Interest coverage | 11 | 8.5 | 1.7 | -0.9 | 1.4 | 0.6 |
| Asset turnover | 1.15 | 0.98 | 0.65 | 0.65 | 0.82 | 0.82 |
| Return ratios | ||||||
| Return on assets % | 16% | 9.6% | 8% | -7.4% | 0.9% | -1.6% |
| Return on capital employed % | 30.2% | 23% | 4.8% | -5% | 7.8% | 3.4% |
| Return on equity % | 26.9% | 22% | 18.4% | -16.9% | 1.8% | -3.5% |
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.