Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 28.4% | 28% | 47.1% | 33.9% | ||||
| 21.4% |
| 27.5% |
| 23.6% |
| 29.8% |
| EBITDA margin % | 5.7% | 2.9% | 7.8% | 6.5% | 3.2% | 8.6% | 4.2% | 8.6% |
| EBIT margin % | 4.3% | 1.1% | 5.7% | 4.8% | 1.8% | 6.8% | 2.2% | 6.5% |
| PAT margin % | 2.8% | -0.3% | 4.2% | 3.5% | 1.2% | 4.9% | 1.6% | 4.9% |
| Working capital | ||||||||
| Receivable days | 9 | 8 | 10 | 9 | 6 | 6 | 8 | 6 |
| Inventory days | 64 | 59 | 111 | 84 | 59 | 69 | 63 | 68 |
| Payable days | 0 | 0 | 49 | 37 | 27 | 34 | 34 | 33 |
| NWC days | 73 | 67 | 71 | 56 | 39 | 41 | 38 | 40 |
| Leverage | ||||||||
| Current ratio | 0.81 | 0.68 | 0.72 | 0.76 | 0.76 | 0.73 | 0.68 | 0.73 |
| Debt to EBITDA | 2.63 | 7.68 | 2.68 | 2.59 | 4.85 | 1.75 | 4.23 | 1.71 |
| Debt to equity | 0.82 | 1.32 | 0.97 | 0.93 | 1.07 | 0.72 | 0.82 | 0.6 |
| Interest coverage | 6 | 1.4 | 9.2 | 7.1 | 2.9 | 8.1 | 2.5 | 7.6 |
| Asset turnover | 1.84 | 1.75 | 1.47 | 1.79 | 2.15 | 1.83 | 1.7 | 1.7 |
| Return ratios | ||||||||
| Return on assets % | 5.2% | -0.6% | 6.1% | 6.3% | 2.6% | 8.9% | 2.7% | 8.3% |
| Return on capital employed % | 17.8% | 5.5% | 18.4% | 18.7% | 9.6% | 25.4% | 8.4% | 21.1% |
| Return on equity % | 15.4% | -2% | 19.5% | 19.3% | 8.4% | 23.5% | 7.4% | 19.9% |
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.