Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 51.8% | 54.8% | 50.2% | 43.4% | 40.3% | 39.3% | 38% |
| EBITDA margin % | 6% | 8.9% | 7.5% | 6.9% | 3% | 4% | 5.1% |
| EBIT margin % | 4.3% | 6.7% | 6.1% | 5.9% | 1.7% | 2.4% | 3.5% |
| PAT margin % | 2.1% | 4.5% | 5.3% | 4.5% | 1.3% | 1.4% | 2.3% |
| Working capital | |||||||
| Receivable days | 171 | 64 | 86 | 44 | 76 | 67 | 93 |
| Inventory days | 74 | 77 | 133 | 78 | 93 | 56 | 51 |
| Payable days | — | — | — | 60 | 70 | 79 | 50 |
| NWC days | — | — | — | 62 | 100 | 44 | 94 |
| Leverage | |||||||
| Current ratio | 1.24 | 1.65 | 1.34 | 1.58 | 1.33 | 1.25 | 1.17 |
| Debt to EBITDA | 8 | 2.54 | 3.1 | 1.26 | 6.38 | 4.08 | 4.37 |
| Debt to equity | 1.47 | 0.56 | 0.76 | 0.41 | 0.71 | 0.58 | 0.8 |
| Interest coverage | 2.3 | 3.8 | 7.3 | 6.3 | 2.4 | 2.3 | 2.9 |
| Asset turnover | 0.94 | 1.09 | 1.22 | 2.21 | 1.48 | 1.5 | 1.11 |
| Return ratios | |||||||
| Return on assets % | 2% | 4.9% | 6.5% | 10% | 2% | 2.2% | 2.6% |
| Return on capital employed % | 12.1% | 14.5% | 17.3% | 24.2% | 7.3% | 9.3% | 12.5% |
| Return on equity % | 6.5% | 11.3% | 17.5% | 21.1% | 4.9% | 5.1% | 8.3% |
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.