Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | 25.2% | 31.1% | 29.5% | 31% |
| EBITDA margin % | — | — | 16.2% | 18.2% | 18.8% | 21.4% |
| EBIT margin % | — | — | 15% | 16.4% | 17.4% | 19.5% |
| PAT margin % | 1.5% | 8.5% | 10% | 12.3% | 12.3% | 12.1% |
| Working capital | ||||||
| Receivable days | — | 21 | 48 | 195 | 126 | 41 |
| Inventory days | — | — | 96 | 134 | 126 | 471 |
| Payable days | — | — | 105 | 197 | 180 | 232 |
| NWC days | — | — | 40 | 132 | 71 | 280 |
| Leverage | ||||||
| Current ratio | 1.61 | 2.14 | 1.22 | 1.38 | 1.39 | 1.2 |
| Debt to EBITDA | — | — | 0.57 | 1.17 | 1.29 | 1.21 |
| Debt to equity | 0.52 | 0.55 | 0.31 | 0.54 | 0.73 | 0.74 |
| Interest coverage | -0.7 | -0.6 | 13 | 7.1 | 6.4 | 6.6 |
| Asset turnover | 0.29 | 0.27 | 1.27 | 0.76 | 0.8 | 0.56 |
| Return ratios | ||||||
| Return on assets % | 0.4% | 2.3% | 12.7% | 9.3% | 9.9% | 6.7% |
| Return on capital employed % | -1.9% | -1.6% | 33.1% | 34.2% | 38.3% | 38.6% |
| Return on equity % | 1.8% | 10.1% | 34.2% | 31.4% | 36.8% | 34.7% |
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.