Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 44.7% | 41.8% | 40.9% | 34.7% | 39.2% | 39% |
| EBITDA margin % | 17.3% | 15.2% | 13.4% | -1.3% | 6.9% | 8.1% |
| EBIT margin % | 14.2% | 12.6% | 10.3% | -7.2% | 1.7% | 2.6% |
| PAT margin % | 11.4% | 12.2% | 9.3% | -6.8% | -0.5% | 1.3% |
| Working capital | ||||||
| Receivable days | 92 | 79 | 75 | 101 | 99 | 113 |
| Inventory days | 152 | 161 | 158 | 185 | 173 | 145 |
| Payable days | 137 | 144 | 108 | 176 | 159 | 149 |
| NWC days | 106 | 96 | 124 | 109 | 113 | 110 |
| Leverage | ||||||
| Current ratio | 1.62 | 1.39 | 1.42 | 1.15 | 1.12 | 1.07 |
| Debt to EBITDA | 0.93 | 1.31 | 2.41 | — | 5.81 | 4.11 |
| Debt to equity | 0.22 | 0.34 | 0.49 | 0.55 | 0.55 | 0.47 |
| Interest coverage | 22.9 | 43.8 | 5.5 | -1.6 | 1.1 | 1.7 |
| Asset turnover | 0.83 | 0.89 | 0.8 | 0.52 | 0.67 | 0.72 |
| Return ratios | ||||||
| Return on assets % | 9.4% | 10.9% | 7.4% | -3.5% | -0.3% | 1% |
| Return on capital employed % | 18.9% | 26.4% | 18.3% | -3.6% | 4.1% | 8.4% |
| Return on equity % | 15.9% | 20.8% | 14.2% | -6.9% | -0.7% | 1.9% |
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.