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Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 8.8% | 9.5% | 0.9% | 11.3% | 9.7% | 10.2% | 9.2% | 8.6% |
| EBITDA margin % | 5.8% | 5.8% | -3.1% | 8.5% | 6.9% | 7.5% | 6.7% | 5.9% |
| EBIT margin % | 4.9% | 4.3% | -5.5% | 7% | 5.7% | 6.4% | 5.7% | 5.2% |
| PAT margin % | 2.8% | 0% | -12.8% | 2.4% | 3.1% | 3.7% | 2% | 2.2% |
| Working capital | ||||||||
| Receivable days | 17 | 43 | 108 | 41 | 35 | 4 | 4 | 20 |
| Inventory days | 85 | 165 | 266 | 236 | 164 | 157 | 181 | 169 |
| Payable days | 43 | 66 | 102 | 113 | 75 | 27 | 22 | 71 |
| NWC days | 59 | 142 | 273 | 164 | 124 | 134 | 163 | 118 |
| Leverage | ||||||||
| Current ratio | 1.39 | 1.33 | 1.32 | 1.38 | 1.41 | 1.52 | 1.34 | 1.32 |
| Debt to EBITDA | 2.79 | 4.93 | — | 4.53 | 3.7 | 3.16 | 4.36 | 3.65 |
| Debt to equity | 1.12 | 1.04 | 2.53 | 1.73 | 1.24 | 1.15 | 1.31 | 0.97 |
| Interest coverage | 4.5 | 1 | -0.6 | 1.5 | 1.8 | 2.3 | 2 | 2.5 |
| Asset turnover | 2.18 | 1.23 | 0.72 | 1.07 | 1.45 | 1.83 | 1.64 | 1.54 |
| Return ratios | ||||||||
| Return on assets % | 6.1% | 0% | -9.3% | 2.6% | 4.4% | 6.8% | 3.3% | 3.3% |
| Return on capital employed % | 25.6% | 13% | -7.8% | 18.1% | 18.8% | 25.4% | 23% | 22.1% |
| Return on equity % | 19.6% | 0.1% | -43.7% | 10.8% | 15% | 18.3% | 9.1% | 9.7% |
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.