Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 26.8% | 27.3% | 21.6% | 28.7% | 24.1% | 16.7% |
| EBITDA margin % | 5.3% | 3.4% | 2.9% | 11.1% | 5.3% | 3.7% |
| EBIT margin % | 3% | -0.6% | -1.2% | 8.7% | 2.9% | 2% |
| PAT margin % | 10% | 3% | 1.7% | 6.3% | 2.9% | 1.7% |
| Working capital | ||||||
| Receivable days | 131 | 125 | 143 | — | 137 | 100 |
| Inventory days | 104 | 195 | 119 | — | 144 | 81 |
| Payable days | 85 | 71 | 25 | — | 74 | 48 |
| NWC days | 150 | 248 | 237 | — | 207 | 132 |
| Leverage | ||||||
| Current ratio | 2.66 | 3.36 | 3.15 | — | 2.2 | 2.5 |
| Debt to EBITDA | 1.13 | 6.14 | 7.67 | — | 3.89 | 2.41 |
| Debt to equity | 0.05 | 0.13 | 0.16 | — | 0.2 | 0.12 |
| Interest coverage | 1.9 | 2.5 | 2 | 6 | 2.4 | 1.8 |
| Asset turnover | 0.64 | 0.44 | 0.51 | — | 0.64 | 0.94 |
| Return ratios | ||||||
| Return on assets % | 6.4% | 1.3% | 0.9% | — | 1.9% | 1.6% |
| Return on capital employed % | 3.7% | 3.9% | 4% | — | 5.6% | 4.5% |
| Return on equity % | 8.9% | 1.8% | 1.2% | — | 2.9% | 2.4% |
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.