Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 11.1% | 9.1% | 7.5% | 7.2% | 5.6% | 5.7% | 5.6% | 5.1% |
| EBITDA margin % | 4.5% | 4.4% | 3.5% | 3.5% | 2.9% | 3.1% | 3% | 1.7% |
| EBIT margin % | 3.8% | 3.5% | 2.3% | 2.8% | 2.5% | 2.8% | 2.7% | 1.1% |
| PAT margin % | 1.2% | 1.5% | 0.7% | 1.4% | 1.6% | 1.7% | 1.4% | 0.3% |
| Working capital | ||||||||
| Receivable days | — | — | 53 | 53 | 46 | 52 | 51 | 25 |
| Inventory days | — | — | 61 | 61 | 41 | 39 | 39 | 70 |
| Payable days | — | — | 40 | 52 | 50 | 52 | 53 | 27 |
| NWC days | — | — | 74 | 62 | 37 | 39 | 37 | 69 |
| Leverage | ||||||||
| Current ratio | — | — | 1.9 | 1.77 | 1.63 | 1.67 | 1.6 | 1.47 |
| Debt to EBITDA | — | — | 2.14 | 1.44 | 0.7 | 0.55 | 0.6 | 8.18 |
| Debt to equity | — | — | 0.29 | 0.22 | 0.13 | 0.1 | 0.12 | 0.43 |
| Interest coverage | 1.9 | 2.2 | 1.6 | 2.9 | 4.5 | 4.3 | 3 | 1.6 |
| Asset turnover | — | — | 2.2 | 2.32 | 3.12 | 3.05 | 3.16 | 1.8 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.5% | 3.3% | 4.9% | 5.1% | 4.3% | 0.5% |
| Return on capital employed % | — | — | 9.1% | 11.8% | 16.8% | 18.7% | 18.3% | 3.3% |
| Return on equity % | — | — | 2.7% | 6.2% | 9.8% | 10.2% | 8.9% | 0.9% |
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.