Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 5.7% | 4.2% | 6% | 4% | 3.4% | 2.9% |
| EBITDA margin % | 1.1% | 0.8% | 2% | 1.9% | 1.9% | 1.8% |
| EBIT margin % | 0.8% | 0.5% | 1.8% | 1.8% | 1.8% | 1.7% |
| PAT margin % | 0.5% | 0.3% | 0.9% | 1.1% | 1% | 1.3% |
| Working capital | ||||||
| Receivable days | — | — | 54 | 35 | 38 | 53 |
| Inventory days | — | — | 19 | 21 | 17 | 18 |
| Payable days | — | — | 19 | 4 | 8 | 21 |
| NWC days | — | — | 54 | 52 | 48 | 49 |
| Leverage | ||||||
| Current ratio | — | — | 1.16 | 1.41 | 1.47 | 1.37 |
| Debt to EBITDA | — | — | 8.42 | 5.67 | 3.85 | 3.52 |
| Debt to equity | — | — | 2.08 | 1.45 | 0.87 | 0.87 |
| Interest coverage | 1.8 | 1.2 | 2.2 | 1.8 | 2.1 | 2.4 |
| Asset turnover | — | — | 3.25 | 4.38 | 4.63 | 4.2 |
| Return ratios | ||||||
| Return on assets % | — | — | 2.9% | 4.8% | 4.7% | 5.6% |
| Return on capital employed % | — | — | 20.9% | 28.6% | 32.3% | 31.3% |
| Return on equity % | — | — | 11.1% | 14.6% | 11.8% | 18.2% |
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.