Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 17.5% | 20.2% | 23.1% | 26.8% | 20.7% | 17.1% |
| EBITDA margin % | 4.2% | 4.8% | 3.3% | 4.2% | 5.3% | 4.3% |
| EBIT margin % | 3.1% | 4.4% | 3% | 3.2% | 4.5% | 3.4% |
| PAT margin % | 1.6% | 3% | 2.5% | 1.6% | 1.8% | 4.9% |
| Working capital | ||||||
| Receivable days | 63 | 85 | 40 | 110 | 107 | 66 |
| Inventory days | 117 | 63 | 44 | 211 | 110 | 184 |
| Payable days | 5 | 1 | 17 | 34 | 33 | 20 |
| NWC days | 175 | 146 | 68 | 286 | 185 | 229 |
| Leverage | ||||||
| Current ratio | 1.58 | 1.39 | 1.72 | 1.4 | 1.26 | 1.2 |
| Debt to EBITDA | 6.83 | 6.4 | 3.64 | 12.71 | 7.04 | 12.93 |
| Debt to equity | 1.67 | 4.28 | 2.13 | 3.68 | 4.01 | 2.02 |
| Interest coverage | 2 | 5 | 5.1 | 2 | 1.9 | 2.5 |
| Asset turnover | 1.7 | 2.09 | 3.32 | 1.03 | 1.45 | 1.06 |
| Return ratios | ||||||
| Return on assets % | 2.7% | 6.2% | 8.4% | 1.7% | 2.6% | 5.3% |
| Return on capital employed % | 15.3% | 33.5% | 31.5% | 11.6% | 24.9% | 34.5% |
| Return on equity % | 9.3% | 41.2% | 44.9% | 11.3% | 19.7% | 17.9% |
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.