Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 45.7% | 43.2% | 39.4% | 38.6% | 40.2% | 42.8% | 44% |
| EBITDA margin % | 14.1% | 10.2% | 9.2% | 8.6% | 7.6% | 10.3% | 9.1% |
| EBIT margin % | 7% | 2% | 2.2% | 2.5% | 1.1% | 4.1% | 2.9% |
| PAT margin % | 5.1% | 0.7% | -0.2% | -1.2% | -2.5% | 1.3% | 7.6% |
| Working capital | |||||||
| Receivable days | — | 68 | 48 | 46 | 51 | 48 | 67 |
| Inventory days | — | 90 | 80 | 89 | 81 | 70 | 111 |
| Payable days | — | 96 | 69 | 74 | 67 | 77 | 115 |
| NWC days | — | 63 | 59 | 61 | 65 | 41 | 63 |
| Leverage | |||||||
| Current ratio | — | 1.49 | 1.31 | 1.03 | 0.95 | 0.89 | 1.02 |
| Debt to EBITDA | — | 1.59 | 2.8 | 3.43 | 4.01 | 2.91 | 3.87 |
| Debt to equity | — | 0.17 | 0.36 | 0.51 | 0.56 | 0.58 | 0.59 |
| Interest coverage | 9.7 | 2.3 | 1.6 | 1.2 | 0.5 | 1.5 | 1 |
| Asset turnover | — | 0.73 | 0.84 | 0.93 | 0.94 | 0.98 | 0.76 |
| Return ratios | |||||||
| Return on assets % | — | 0.5% | -0.2% | -1.1% | -2.3% | 1.2% | 5.8% |
| Return on capital employed % | — | 2.3% | 2.7% | 3.6% | 1.9% | 6.5% | 4.6% |
| Return on equity % | — | 0.7% | -0.3% | -2% | -4.6% | 2.4% | 12.7% |
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.