Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 24.2% | 14.4% | 17.9% | 24.1% | 29.8% | 29.5% | 27% |
| EBITDA margin % | 3.7% | 3.9% | 4.3% | 4.5% | 6.4% | 5.7% | 5.6% |
| EBIT margin % | 1.1% | 2% | 2.5% | 1.9% | 3.4% | 2.8% | 2.7% |
| PAT margin % | 0.3% | 1% | 1.6% | 2.6% | 2% | 1.9% | 2% |
| Working capital | |||||||
| Receivable days | — | 66 | 74 | 80 | 54 | 53 | 68 |
| Inventory days | — | 17 | 26 | 50 | 58 | 58 | 62 |
| Payable days | — | 52 | 58 | 76 | 68 | 67 | 80 |
| NWC days | — | 30 | 41 | 55 | 44 | 44 | 50 |
| Leverage | |||||||
| Current ratio | — | 1.25 | 1.27 | 1.24 | 1.3 | 1.33 | 1.26 |
| Debt to EBITDA | — | 1.35 | 1.12 | 1.09 | 0.83 | 1.6 | 1.96 |
| Debt to equity | — | 0.36 | 0.27 | 0.25 | 0.25 | 0.45 | 0.54 |
| Interest coverage | 1.6 | 3.1 | 4.5 | 1.8 | 3.7 | 2.9 | 2.4 |
| Asset turnover | — | 2.47 | 1.99 | 1.56 | 1.55 | 1.67 | 1.58 |
| Return ratios | |||||||
| Return on assets % | — | 2.4% | 3.1% | 4% | 3.1% | 3.2% | 3.2% |
| Return on capital employed % | — | 11% | 11.8% | 9.2% | 15.8% | 13.4% | 13.1% |
| Return on equity % | — | 6.6% | 8.8% | 13.4% | 9.5% | 9.4% | 9.9% |
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.