Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 6.7% | 8.2% | 8.6% | 10% | ||||
| 6.9% |
| 9.4% |
| 6.3% |
| 4.7% |
| EBITDA margin % | 3.3% | 2.5% | 3.9% | 5.5% | 3.9% | 5.7% | 2.8% | 1.5% |
| EBIT margin % | 2.7% | 1.6% | 3.2% | 5% | 3.5% | 5.1% | 2.2% | 1% |
| PAT margin % | 1.7% | 0.3% | 2.4% | 3.6% | 2.1% | 2.9% | 2.2% | 1% |
| Working capital | ||||||||
| Receivable days | 47 | 75 | 41 | 50 | 64 | 76 | 85 | 98 |
| Inventory days | 40 | 61 | 62 | 53 | 58 | 51 | 47 | 45 |
| Payable days | 15 | 67 | 43 | 37 | 63 | 88 | 106 | 90 |
| NWC days | 72 | 69 | 60 | 67 | 58 | 38 | 26 | 53 |
| Leverage | ||||||||
| Current ratio | 1.62 | 1.34 | 1.47 | 1.37 | 1.35 | 1.68 | 1.66 | 1.8 |
| Debt to EBITDA | 5.28 | 9.2 | 4.65 | 3.24 | 3.75 | 2.43 | 3.03 | 7.57 |
| Debt to equity | 1 | 0.91 | 0.85 | 1.09 | 0.77 | 0.43 | 0.24 | 0.27 |
| Interest coverage | 1.7 | 1 | 2.4 | 4.4 | 2.6 | 2.7 | 3.4 | 2.4 |
| Asset turnover | 2.51 | 1.49 | 1.9 | 2.14 | 1.92 | 1.43 | 1.38 | 1.26 |
| Return ratios | ||||||||
| Return on assets % | 4.2% | 0.5% | 4.5% | 7.6% | 3.9% | 4.1% | 3% | 1.2% |
| Return on capital employed % | 15.9% | 8.7% | 15.2% | 32.6% | 23.4% | 17.2% | 10.5% | 6.4% |
| Return on equity % | 9.6% | 1.3% | 11.1% | 21.6% | 11% | 9% | 6.2% | 2.3% |
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.