Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 9.2% | 9.4% | 10.9% | 8.4% |
| EBITDA margin % | 4.7% | 6.4% | 6.3% | 4.9% |
| EBIT margin % | 4.3% | 6.3% | 6.2% | 4.8% |
| PAT margin % | 1.1% | 1.9% | 2.4% | 2.4% |
| Working capital | ||||
| Receivable days | 93 | 79 | 79 | 91 |
| Inventory days | 159 | 166 | 183 | 161 |
| Payable days | 17 | 70 | 84 | 95 |
| NWC days | 236 | 174 | 179 | 157 |
| Leverage | ||||
| Current ratio | 1.8 | 1.74 | 1.51 | 1.78 |
| Debt to EBITDA | 8.84 | 5.33 | 4.21 | 3.79 |
| Debt to equity | 1.34 | 1.18 | 0.99 | 0.53 |
| Interest coverage | 1.4 | 1.6 | 1.9 | 2.6 |
| Asset turnover | 1.23 | 1.1 | 1.25 | 1.24 |
| Return ratios | ||||
| Return on assets % | 1.4% | 2.1% | 3% | 2.9% |
| Return on capital employed % | 14.6% | 20.5% | 23% | 17.4% |
| Return on equity % | 3.7% | 6.6% | 8.8% | 6.7% |
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.