Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 24.1% | 25.7% | 24.4% | 17.7% | 19.8% | 13.2% |
| EBITDA margin % | 7.8% | 9.2% | 10% | 6.8% | 7.1% | 5.1% |
| EBIT margin % | 4.2% | 6.7% | 6.3% | 5% | 5.1% | 3.4% |
| PAT margin % | 1.6% | 3.7% | 3.4% | 2.9% | 3.1% | 2.2% |
| Working capital | ||||||
| Receivable days | 72 | 55 | 66 | 48 | 75 | 51 |
| Inventory days | 270 | 237 | 150 | 110 | 151 | 91 |
| Payable days | 17 | 20 | 19 | 14 | 28 | 12 |
| NWC days | 325 | 273 | 197 | 145 | 198 | 131 |
| Leverage | ||||||
| Current ratio | 1.4 | 1.46 | 1.39 | 1.3 | 1.24 | 1.33 |
| Debt to EBITDA | 7.57 | 6.6 | 4.56 | 4.65 | 5.89 | 6.07 |
| Debt to equity | 0.86 | 1.12 | 1.16 | 1.48 | 1.55 | 1.51 |
| Interest coverage | 1.6 | 2.9 | 2.4 | 2.7 | 2.4 | 2.5 |
| Asset turnover | 0.74 | 0.83 | 1.07 | 1.75 | 1.28 | 1.75 |
| Return ratios | ||||||
| Return on assets % | 1.2% | 3.1% | 3.6% | 5% | 3.9% | 3.8% |
| Return on capital employed % | 8.2% | 12.6% | 16.9% | 25% | 24.3% | 23.3% |
| Return on equity % | 2.3% | 6.9% | 8.6% | 13.4% | 11.4% | 10.5% |
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.