Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 66.5% | 66.9% | 66.2% | 67.1% | 67.4% | 67.1% | 68.1% | 64.1% |
| EBITDA margin % | 6.5% | 9.1% | 11.1% | 8.3% | 4.9% | 6.4% | 5.7% | 9.4% |
| EBIT margin % | 6.5% | 4.8% | 5.9% | 3.4% | -0.4% | 1% | -0.9% | 2.2% |
| PAT margin % | 1.8% | -0.4% | 2.5% | 0.7% | -2.1% | 2.1% | 0.6% | 0.4% |
| Working capital | ||||||||
| Receivable days | 43 | 44 | 41 | 36 | 34 | 33 | 42 | 39 |
| Inventory days | 125 | 137 | 112 | 142 | 114 | 121 | 121 | 94 |
| Payable days | 136 | 144 | 183 | 200 | 200 | 151 | 159 | 140 |
| NWC days | 31 | 37 | -29 | -23 | -52 | 3 | 4 | -7 |
| Leverage | ||||||||
| Current ratio | 0.81 | 0.9 | 0.9 | 0.8 | 0.7 | 0.79 | 0.75 | 0.9 |
| Debt to EBITDA | 3.69 | 3.31 | 2.78 | 2.98 | 4.07 | 2.73 | 2.65 | 1.6 |
| Debt to equity | 1.31 | 1.7 | 1.39 | 1.18 | 1.22 | 0.96 | 0.75 | 0.73 |
| Interest coverage | 1.9 | 1.3 | 1.7 | 1.4 | 0 | 0.6 | 0.3 | 1.1 |
| Asset turnover | 1.14 | 0.98 | 0.91 | 0.98 | 1.12 | 1.07 | 1 | 1.01 |
| Return ratios | ||||||||
| Return on assets % | 2% | -0.3% | 2.3% | 0.7% | -2.4% | 2.3% | 0.6% | 0.4% |
| Return on capital employed % | 14.4% | 9.5% | 10.1% | 6.8% | 0.2% | 3.1% | 1.6% | 4.4% |
| Return on equity % | 9.7% | -2% | 11.3% | 3.3% | -13.1% | 11.7% | 3.1% | 2% |
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.