Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 18% | 21.2% | 21.2% | 25% | 22.9% | 24% |
| EBITDA margin % | 2.9% | 3.1% | 1.3% | 2.3% | 8.5% | 10.2% |
| EBIT margin % | 2.6% | 2.8% | 0.9% | 1.2% | 7.3% | 9.1% |
| PAT margin % | 2.4% | 2% | 0.3% | -0.4% | 4.7% | 7% |
| Working capital | ||||||
| Receivable days | — | 15 | 17 | 25 | 26 | 24 |
| Inventory days | — | 92 | 94 | 117 | 60 | 59 |
| Payable days | — | 12 | 20 | 31 | 20 | 21 |
| NWC days | — | 94 | 91 | 111 | 66 | 62 |
| Leverage | ||||||
| Current ratio | — | 1.59 | 1.53 | 1.24 | 1.22 | 1.66 |
| Debt to EBITDA | — | 3.43 | 27.35 | 18.71 | 2.66 | 2.19 |
| Debt to equity | — | 0.66 | 1.74 | 1.87 | 1.22 | 0.94 |
| Interest coverage | 11.7 | 8.2 | 1.5 | 0.8 | 4.2 | 8.5 |
| Asset turnover | — | 2.87 | 1.59 | 1.31 | 2.01 | 1.77 |
| Return ratios | ||||||
| Return on assets % | — | 5.7% | 0.4% | -0.5% | 9.4% | 12.4% |
| Return on capital employed % | — | 17.9% | 4.2% | 3.1% | 26% | 26.4% |
| Return on equity % | — | 12.1% | 1.3% | -1.5% | 25.5% | 29.2% |
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.