Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 34.1% | 34.8% | 29.6% | 30.3% | 33.6% | 39.1% |
| EBITDA margin % | 5.9% | 7.9% | 9.6% | 11.8% | 11.7% | 11.5% |
| EBIT margin % | 2.5% | 5.8% | 8.2% | 10.2% | 9.6% | 8.7% |
| PAT margin % | 1.1% | 2.4% | 4.8% | 3.6% | 4.2% | 3.2% |
| Working capital | ||||||
| Receivable days | 81 | 55 | 55 | 63 | 79 | 61 |
| Inventory days | 199 | 186 | 173 | 197 | 272 | 442 |
| Payable days | 94 | 115 | 65 | 48 | 143 | 168 |
| NWC days | 186 | 125 | 164 | 212 | 207 | 334 |
| Leverage | ||||||
| Current ratio | 1.15 | 1.11 | 1.26 | 1.35 | 1.4 | 1.41 |
| Debt to EBITDA | 7.49 | 4.28 | 3.53 | 3.88 | 3.67 | 4.2 |
| Debt to equity | 0.89 | 1.09 | 1.08 | 1.17 | 0.79 | 0.74 |
| Interest coverage | 1.4 | 2.3 | 3.2 | 2.4 | 1.9 | 1.9 |
| Asset turnover | 0.87 | 1.1 | 1.23 | 0.99 | 0.77 | 0.67 |
| Return ratios | ||||||
| Return on assets % | 0.9% | 2.7% | 5.8% | 3.6% | 3.2% | 2.1% |
| Return on capital employed % | 10.2% | 19.5% | 28.2% | 25.6% | 19.3% | 13.9% |
| Return on equity % | 2.2% | 7.8% | 15.2% | 9.2% | 7.8% | 4.9% |
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.