Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.2% | 39.6% | 45.2% | 40.2% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.2% | 39.6% | 45.2% | 40.2% | ||||
| 37.7% |
| 43.2% |
| 45.4% |
| 43.4% |
| EBITDA margin % | 8.3% | 9.9% | 18.1% | 10% | 8.3% | 10.7% | 11.3% | 11.3% |
| EBIT margin % | 6.9% | 7.6% | 15.9% | 7.7% | 6.2% | 8.4% | 9.1% | 9.2% |
| PAT margin % | 3.2% | 14.6% | -24.9% | 3.9% | 2.1% | 5.1% | 6.1% | 11.8% |
| Working capital | ||||||||
| Receivable days | 33 | 15 | 10 | 11 | 28 | 32 | 28 | 29 |
| Inventory days | 158 | 104 | 131 | 122 | 115 | 122 | 143 | 134 |
| Payable days | 162 | 89 | 95 | 81 | 74 | 82 | 102 | 94 |
| NWC days | 29 | 30 | 46 | 51 | 69 | 72 | 68 | 69 |
| Leverage | ||||||||
| Current ratio | 1.23 | 1.58 | 0.92 | 0.94 | 1.08 | 1.15 | 1.16 | 1.32 |
| Debt to EBITDA | 2.54 | 2.26 | 1.87 | 3.07 | 3.39 | 2.03 | 1.89 | 1.1 |
| Debt to equity | 0.85 | 0.49 | 1.73 | 1.28 | 1.17 | 0.74 | 0.63 | 0.29 |
| Interest coverage | 2.5 | 2 | 3.9 | 2 | 1.6 | 3.5 | 4.8 | 7.2 |
| Asset turnover | 1.25 | 0.97 | 1.22 | 1.29 | 1.35 | 1.36 | 1.24 | 1.2 |
| Return ratios | ||||||||
| Return on assets % | 4% | 14.2% | -30.5% | 4.9% | 2.8% | 6.9% | 7.6% | 14.1% |
| Return on capital employed % | 26.5% | 20.8% | 33% | 19.7% | 17.3% | 20.3% | 20.6% | 19.2% |
| Return on equity % | 12.7% | 32.1% | -127.2% | 16% | 8.6% | 17.3% | 17.9% | 27.5% |
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.