Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 35.3% | 37.2% | 44.3% | 34.1% | 32.1% | 31.7% | 39.7% | 33.5% |
| EBITDA margin % | 12.8% | 16.6% | 21.9% | 10.7% | 6.4% | 5.6% | 10.1% | 6.6% |
| EBIT margin % | 9.9% | 14.1% | 19.4% | 8.7% | 4.1% | 3.2% | 7.5% | 3.6% |
| PAT margin % | -0% | 11.3% | 14.4% | 6.1% | 2.3% | 1.1% | 3.7% | 0.3% |
| Working capital | ||||||||
| Receivable days | — | — | 97 | 82 | 82 | 79 | 74 | 89 |
| Inventory days | — | — | 211 | 183 | 233 | 177 | 238 | 203 |
| Payable days | — | — | 66 | 52 | 55 | 52 | 50 | 44 |
| NWC days | — | — | 242 | 213 | 259 | 203 | 262 | 247 |
| Leverage | ||||||||
| Current ratio | — | — | 3.01 | 2.99 | 2.18 | 1.93 | 1.75 | 1.6 |
| Debt to EBITDA | — | — | 0.5 | 1.51 | 4.22 | 4.35 | 3.77 | 5.91 |
| Debt to equity | — | — | 0.14 | 0.23 | 0.37 | 0.32 | 0.53 | 0.61 |
| Interest coverage | 6.9 | 9.6 | 60.3 | 19.7 | 3.1 | 1.7 | 2.9 | 1.3 |
| Asset turnover | — | — | 0.95 | 1 | 0.86 | 0.84 | 0.81 | 0.86 |
| Return ratios | ||||||||
| Return on assets % | — | — | 13.7% | 6.2% | 2% | 0.9% | 3% | 0.3% |
| Return on capital employed % | — | — | 23.7% | 12.6% | 5.9% | 4.9% | 9.8% | 6.1% |
| Return on equity % | — | — | 18.3% | 8.8% | 3.2% | 1.4% | 5.2% | 0.5% |
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.