Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 40.4% | 41.2% | 45% | 43.1% | 47.5% |
| EBITDA margin % | |||||
| 6.6% |
| 5.8% |
| 1.9% |
| -0.5% |
| 5.7% |
| EBIT margin % | 5% | 4.4% | 0.6% | -2% | 3.8% |
| PAT margin % | 3.2% | 3.3% | 2.6% | -1.4% | 1.8% |
| Working capital | |||||
| Receivable days | 40 | 53 | 57 | 53 | 73 |
| Inventory days | 123 | 64 | 147 | 117 | 117 |
| Payable days | 27 | 18 | 64 | 53 | 19 |
| NWC days | 136 | 100 | 139 | 117 | 170 |
| Leverage | |||||
| Current ratio | 1.12 | 1.42 | 1.24 | 1.27 | 1.27 |
| Debt to EBITDA | 5.15 | 4.86 | 17.4 | — | 6.65 |
| Debt to equity | 1.67 | 1.39 | 1.17 | 1.28 | 1.35 |
| Interest coverage | 3.1 | 3.8 | 1.8 | -0.1 | 2.2 |
| Asset turnover | 1.57 | 1.77 | 1.29 | 1.27 | 1.35 |
| Return ratios | |||||
| Return on assets % | 5% | 5.7% | 3.3% | -1.7% | 2.5% |
| Return on capital employed % | 26.9% | 26% | 7.1% | -0.6% | 14.6% |
| Return on equity % | 15.8% | 16% | 9% | -4.7% | 6.5% |
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.