Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 15.7% | 15.2% | 18.8% | 20.4% | 22.2% | 23.8% |
| EBITDA margin % | 5.1% | 7.3% | 7% | 5.1% | 5.5% | 5.6% |
| EBIT margin % | 4.9% | 6.8% | 6.7% | 4.8% | 5.2% | 5.3% |
| PAT margin % | 1% | 2.5% | 3% | 4.2% | 3.3% | 3.4% |
| Working capital | ||||||
| Receivable days | 84 | 110 | 88 | 45 | 71 | 88 |
| Inventory days | 25 | 17 | 13 | 17 | 15 | 14 |
| Payable days | 100 | 113 | 95 | 46 | 84 | 109 |
| NWC days | 8 | 14 | 6 | 16 | 2 | -7 |
| Leverage | ||||||
| Current ratio | 0.79 | 0.89 | 0.85 | 0.84 | 0.92 | 0.95 |
| Debt to EBITDA | 9.39 | 4.01 | 2.61 | 4.16 | 2.45 | 2.36 |
| Debt to equity | 0.08 | 0.09 | 0.08 | 0.08 | 0.06 | 0.05 |
| Interest coverage | 1.3 | 2 | 2.8 | 3.2 | 3.3 | 3.5 |
| Asset turnover | 0.16 | 0.26 | 0.36 | 0.32 | 0.37 | 0.34 |
| Return ratios | ||||||
| Return on assets % | 0.2% | 0.7% | 1.1% | 1.4% | 1.2% | 1.2% |
| Return on capital employed % | 0.9% | 2% | 2.8% | 2.8% | 2.7% | 2.5% |
| Return on equity % | 0.2% | 0.8% | 1.3% | 1.5% | 1.4% | 1.3% |
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.