Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 54.6% | 43.8% | 52.2% | 63.3% | 66.7% | 58% | 47.4% |
| EBITDA margin % | 9.9% | 7.4% | 10.2% | 11.2% | 10.7% | 11% | 13.1% |
| EBIT margin % | 3.9% | 3.6% | 5.6% | 6% | 6.9% | 7.7% | 10% |
| PAT margin % | 1.7% | 4.4% | 1.6% | 3% | 2.7% | 0.8% | 5.1% |
| Working capital | |||||||
| Receivable days | 92 | 57 | 64 | 76 | 76 | 55 | 63 |
| Inventory days | 529 | 282 | 256 | 471 | 425 | 305 | 190 |
| Payable days | — | 84 | 84 | 92 | 71 | 42 | 29 |
| NWC days | — | 255 | 237 | 456 | 430 | 318 | 224 |
| Leverage | |||||||
| Current ratio | 1.82 | 1.92 | 2.21 | 2.23 | 2.3 | 1.94 | 1.9 |
| Debt to EBITDA | 4.83 | 4.16 | 2.18 | 3.92 | 3.58 | 4.08 | 3.17 |
| Debt to equity | 0.5 | 0.45 | 0.32 | 0.47 | 0.52 | 0.69 | 0.67 |
| Interest coverage | 1 | 2.2 | 4 | 1.7 | 2.1 | 1.7 | 3.1 |
| Asset turnover | 0.55 | 0.77 | 0.86 | 0.62 | 0.77 | 0.78 | 0.83 |
| Return ratios | |||||||
| Return on assets % | 0.9% | 3.4% | 1.4% | 1.9% | 2.1% | 0.6% | 4.2% |
| Return on capital employed % | 5.2% | 11.3% | 17.7% | 6.3% | 8.4% | 10.2% | 14.4% |
| Return on equity % | 1.7% | 6.4% | 2.3% | 3.2% | 3.7% | 1.3% | 8.2% |
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.