Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 11.1% | 10.4% | 19.7% | 18.3% | 20.4% | 21.4% | 19.7% |
| EBITDA margin % | 6.7% | 6.4% | 5% | 4.4% | 5.2% | 7.1% | 6.3% |
| EBIT margin % | 5.2% | 4.5% | 3.8% | 3.3% | 4% | 5.4% | 4.8% |
| PAT margin % | 1.9% | 1.4% | 1.7% | 1.2% | 1.3% | 1.9% | 1.5% |
| Working capital | |||||||
| Receivable days | — | — | — | 45 | 51 | 58 | 61 |
| Inventory days | — | — | — | 43 | 59 | 73 | 72 |
| Payable days | — | — | — | 0 | 39 | 53 | 48 |
| NWC days | — | — | — | 88 | 71 | 78 | 85 |
| Leverage | |||||||
| Current ratio | — | — | — | 1.47 | 1.33 | 1.33 | 1.2 |
| Debt to EBITDA | — | — | — | 3.82 | 4.58 | 3.91 | 3.9 |
| Debt to equity | — | — | — | 1.15 | 1.38 | 1.35 | 1.27 |
| Interest coverage | 1.9 | 1.7 | 2.3 | 1.8 | 1.7 | 1.8 | 1.7 |
| Asset turnover | — | — | — | 2.4 | 1.92 | 1.59 | 1.71 |
| Return ratios | |||||||
| Return on assets % | — | — | — | 2.8% | 2.5% | 3% | 2.6% |
| Return on capital employed % | — | — | — | 15.3% | 16.7% | 19.1% | 19.8% |
| Return on equity % | — | — | — | 8.1% | 7.6% | 9.3% | 7.9% |
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.