Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 30.1% | 18.9% | 19.3% | 18.5% | 21.3% | ||
| 22.2% |
| 20.7% |
| EBITDA margin % | 5.1% | 6.6% | 7.2% | 5.2% | 6.7% | 8.4% | 6.7% |
| EBIT margin % | 0.4% | 3.3% | 4.5% | 2.8% | 4.1% | 6.1% | 4.7% |
| PAT margin % | -5.9% | 5% | 1.8% | 0.9% | 2.8% | 7.6% | 2.4% |
| Working capital | |||||||
| Receivable days | — | 10 | 10 | 8 | 11 | 8 | 12 |
| Inventory days | — | 246 | 214 | 208 | 300 | 266 | 235 |
| Payable days | — | 201 | 57 | 61 | 52 | 44 | 34 |
| NWC days | — | 55 | 167 | 155 | 259 | 231 | 214 |
| Leverage | |||||||
| Current ratio | — | 1.17 | 1.3 | 1.22 | 1.26 | 1.5 | 1.56 |
| Debt to EBITDA | — | 2.55 | 3.92 | 4.96 | 6.26 | 3.43 | 4 |
| Debt to equity | — | 0.67 | 1.08 | 0.99 | 1.38 | 0.85 | 0.8 |
| Interest coverage | 0.6 | 1.5 | 2.7 | 1.6 | 2.8 | 3.3 | 3.5 |
| Asset turnover | — | 1.06 | 1.41 | 1.43 | 1.15 | 1.32 | 1.4 |
| Return ratios | |||||||
| Return on assets % | — | 5.3% | 2.5% | 1.3% | 3.2% | 10% | 3.3% |
| Return on capital employed % | — | 11.3% | 15.7% | 10.6% | 20.2% | 21.2% | 14.9% |
| Return on equity % | — | 19.8% | 6.8% | 3.4% | 9.2% | 22.2% | 7.1% |
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.