Consolidated figures
| Ratio | Mar 2016 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.7% | 29.7% | 29.9% | 26.1% | 24.5% | 22.2% | 26.1% | 32% |
| EBITDA margin % | 8.1% | 6.8% | 9.5% | 8.6% | 9.1% | 1% | -5.1% | 6.5% |
| EBIT margin % | 4.2% | 4.4% | 7.3% | 7.1% | 7.8% | -0.6% | -7.4% | 4.5% |
| PAT margin % | 1.3% | 1.7% | 4.3% | 4.3% | 4.5% | -3.3% | -7.5% | 0.3% |
| Working capital | ||||||||
| Receivable days | 99 | — | 103 | 118 | 133 | 157 | 93 | 106 |
| Inventory days | 153 | — | 100 | 124 | 112 | 92 | 106 | 96 |
| Payable days | — | — | 120 | 117 | 111 | 87 | 119 | 96 |
| NWC days | — | — | 83 | 124 | 135 | 162 | 81 | 105 |
| Leverage | ||||||||
| Current ratio | 1.17 | — | 1.53 | 1.38 | 1.27 | 1.13 | 0.97 | 1.27 |
| Debt to EBITDA | 3.22 | — | 1.63 | 3.52 | 3.74 | 46.34 | — | 2.93 |
| Debt to equity | 0.97 | — | 0.44 | 1.01 | 1.26 | 1.54 | 0.93 | 0.44 |
| Interest coverage | 1.3 | 1.8 | 3.7 | 4.9 | 3.7 | -0 | -1.3 | 1.6 |
| Asset turnover | 1.13 | — | 1.22 | 1.09 | 1.1 | 0.98 | 0.98 | 1.16 |
| Return ratios | ||||||||
| Return on assets % | 1.4% | — | 5.2% | 4.7% | 5% | -3.2% | -7.3% | 0.3% |
| Return on capital employed % | 18.7% | — | 19.5% | 21.2% | 23.3% | -0.2% | -13.8% | 11.8% |
| Return on equity % | 4.8% | — | 12.2% | 14.5% | 16.5% | -11.5% | -21.6% | 0.7% |
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.