Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | 70% | 65.2% | 65.3% | 65.2% | 71.6% |
| EBITDA margin % | — | 12.1% | 8% | 7.3% | 7.3% | 8.9% |
| EBIT margin % | — | 6.9% | 3.1% | 1.9% | 1.5% | 3.7% |
| PAT margin % | — | 3% | 0.5% | -1% | -1.5% | 0.5% |
| Working capital | ||||||
| Receivable days | — | 90 | 85 | 89 | 81 | 82 |
| Inventory days | — | 236 | 194 | 195 | 185 | 266 |
| Payable days | — | 282 | 33 | 18 | 11 | 12 |
| NWC days | — | 44 | 246 | 266 | 255 | 336 |
| Leverage | ||||||
| Current ratio | — | 1.05 | — | — | — | — |
| Debt to EBITDA | — | 3.26 | 3.71 | 3.62 | 4.48 | 3.99 |
| Debt to equity | — | 0.97 | 0.86 | 0.79 | 0.98 | 1.16 |
| Interest coverage | — | 2.1 | 1.2 | 0.8 | 0.6 | 1.4 |
| Asset turnover | — | 0.91 | 1.02 | 1.03 | 1.01 | 1.04 |
| Return ratios | ||||||
| Return on assets % | — | 2.7% | 0.5% | -1.1% | -1.5% | 0.5% |
| Return on capital employed % | — | 12.3% | — | 4% | 3.3% | 8.1% |
| Return on equity % | — | 7.3% | 1.5% | -3% | -4.4% | 1.7% |
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.