Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 44.3% | 39.5% | 37.7% | 37.9% | 38.1% | 36.5% |
| EBITDA margin % | 12.2% | 7.9% | 4.4% | 4% | 7.2% | 9.1% |
| EBIT margin % | 10.1% | 6.2% | 2.1% | 1.4% | 4.9% | 7.4% |
| PAT margin % | 6.7% | 4.2% | 0.8% | 0.2% | 1.8% | 5.5% |
| Working capital | ||||||
| Receivable days | — | 36 | 37 | 55 | 52 | 48 |
| Inventory days | — | 113 | 102 | 116 | 100 | 86 |
| Payable days | — | 15 | 18 | 22 | 16 | 18 |
| NWC days | — | 134 | 122 | 149 | 136 | 116 |
| Leverage | ||||||
| Current ratio | — | 1.29 | 1.21 | 1.08 | 1.3 | 1.74 |
| Debt to EBITDA | — | 3.72 | 7.82 | 11.36 | 3.22 | 1.72 |
| Debt to equity | — | 1.02 | 0.92 | 1.25 | 0.7 | 0.42 |
| Interest coverage | 5.8 | 3.6 | 1.2 | 1.1 | 2.2 | 5.7 |
| Asset turnover | — | 1.49 | 1.17 | 1.04 | 1.29 | 1.53 |
| Return ratios | ||||||
| Return on assets % | — | 6.2% | 0.9% | 0.2% | 2.3% | 8.4% |
| Return on capital employed % | — | 18.7% | 5.2% | 6.3% | 14.7% | 20.1% |
| Return on equity % | — | 14.6% | 2% | 0.5% | 5.4% | 14.7% |
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.