Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 37.4% | 46.9% | 58% | 33.4% | 37.9% | 35.7% | 39.2% |
| EBITDA margin % | 12.3% | 13.7% | 15% | 11% | 16% | 13.4% | 15.6% |
| EBIT margin % | 6% | 6.6% | 10% | 7.4% | 11.5% | 8.1% | 9.9% |
| PAT margin % | 2.7% | 5.9% | 9.3% | 4.8% | 8.9% | 5.8% | 7.5% |
| Working capital | |||||||
| Receivable days | 15 | 16 | 13 | 10 | 11 | 12 | 12 |
| Inventory days | 48 | 85 | 89 | 35 | 48 | 50 | 59 |
| Payable days | — | 51 | 66 | 27 | 34 | 33 | 43 |
| NWC days | — | 50 | 36 | 18 | 25 | 29 | 28 |
| Leverage | |||||||
| Current ratio | 0.65 | 0.76 | 0.83 | 0.86 | 0.88 | 0.81 | 0.84 |
| Debt to EBITDA | 1.95 | 2.41 | 1.35 | 1.71 | 1.16 | 1.73 | 1.38 |
| Debt to equity | 0.47 | 0.54 | 0.42 | 0.46 | 0.36 | 0.45 | 0.38 |
| Interest coverage | 4.9 | 6.5 | 10.6 | 7.5 | 8.5 | 4.5 | 6 |
| Asset turnover | 0.85 | 0.66 | 0.91 | 1.11 | 0.91 | 0.87 | 0.84 |
| Return ratios | |||||||
| Return on assets % | 2.3% | 3.9% | 8.4% | 5.3% | 8% | 5.1% | 6.3% |
| Return on capital employed % | 9.3% | 8.5% | 13.8% | 12.6% | 16.6% | 11.5% | 12.9% |
| Return on equity % | 5.4% | 9.7% | 19% | 11.7% | 16.9% | 11.2% | 13.4% |
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.