Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.9% | 43.9% | 49.4% | 44% | 38.5% | 40.4% | 39.4% | 37.6% |
| EBITDA margin % | 7.1% | 8% | 11.8% | 8.5% | 3.4% | 6.6% | 6.7% | 4.1% |
| EBIT margin % | 3.9% | 4.3% | 8.2% | 5.7% | 0.5% | 2.8% | 2.6% | -0.4% |
| PAT margin % | 1.4% | 3.4% | 8.3% | 3.8% | 2.8% | 1.1% | 1.2% | 0.2% |
| Working capital | ||||||||
| Receivable days | — | 29 | 37 | 31 | 33 | 33 | 30 | 28 |
| Inventory days | — | 103 | 138 | 106 | 108 | 123 | 93 | 108 |
| Payable days | — | — | 70 | 45 | 55 | 57 | 40 | 56 |
| NWC days | — | — | 105 | 91 | 86 | 98 | 83 | 80 |
| Leverage | ||||||||
| Current ratio | — | — | 1.58 | 1.97 | 1.47 | 1.29 | 1.3 | 1.37 |
| Debt to EBITDA | — | 1.49 | 0.87 | 1.41 | 9.35 | 4.85 | 3.55 | 6.25 |
| Debt to equity | — | 0.33 | 0.21 | 0.29 | 0.73 | 0.74 | 0.58 | 0.55 |
| Interest coverage | 1.7 | 2 | 4.6 | 5.8 | 1.8 | 1.5 | 1.7 | 0.6 |
| Asset turnover | — | 1.38 | 1.2 | 1.47 | 1 | 1.01 | 1.17 | 1.03 |
| Return ratios | ||||||||
| Return on assets % | — | 4.7% | 10% | 5.5% | 2.8% | 1.1% | 1.4% | 0.2% |
| Return on capital employed % | — | — | 16% | 13.5% | 3.6% | 6.1% | 7% | 2.5% |
| Return on equity % | — | 9.4% | 17.1% | 9.1% | 6.4% | 2.4% | 2.9% | 0.4% |
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.