Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 9.4% | 9.7% | 9.6% | 8.9% | 8.8% | ||
| 9.3% |
| 7.3% |
| EBITDA margin % | 4.9% | 5.3% | 5.4% | 4.3% | 4.3% | 5.2% | 4.1% |
| EBIT margin % | 4.4% | 4.7% | 4.8% | 3.7% | 3.7% | 4.5% | 3.5% |
| PAT margin % | 1.7% | 1.7% | 2.2% | 1.6% | 1.6% | 2.4% | 1.8% |
| Working capital | |||||||
| Receivable days | 41 | 33 | 33 | 28 | 38 | 36 | 39 |
| Inventory days | 60 | 57 | 56 | 51 | 51 | 50 | 53 |
| Payable days | 19 | 15 | 17 | 29 | 23 | 33 | 34 |
| NWC days | 82 | 75 | 71 | 51 | 66 | 54 | 58 |
| Leverage | |||||||
| Current ratio | 1.23 | 1.37 | 1.43 | 1.46 | 1.54 | 2.38 | 2.17 |
| Debt to EBITDA | 4.99 | 4.17 | 3.63 | 2.28 | 3.18 | 1.12 | 1.54 |
| Debt to equity | 1.7 | 1.44 | 1.41 | 0.56 | 0.63 | 0.14 | 0.2 |
| Interest coverage | 1.8 | 2 | 2.5 | 2.6 | 2.4 | 3.3 | 3.1 |
| Asset turnover | 2.13 | 2.24 | 2.44 | 2.61 | 2.29 | 1.75 | 2.08 |
| Return ratios | |||||||
| Return on assets % | 3.6% | 3.8% | 5.2% | 4.1% | 3.7% | 4.2% | 3.8% |
| Return on capital employed % | 19.5% | 20.6% | 24% | 19% | 16.1% | 13.9% | 10.7% |
| Return on equity % | 11.7% | 11.1% | 15.6% | 9% | 7.6% | 5.8% | 5.7% |
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.