Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 24.4% | 17.9% | 19.1% | 17.6% | 15.7% | 15.7% |
| EBITDA margin % | 7.8% | 2.9% | 1.9% | 0.4% | 1.1% | 1.3% |
| EBIT margin % | 7.2% | 2.3% | 1.3% | 0.1% | 0.9% | 0.8% |
| PAT margin % | 3.9% | 2.6% | 1% | 0.1% | 0.7% | 0.6% |
| Working capital | ||||||
| Receivable days | 9 | 8 | 10 | 10 | 7 | 8 |
| Inventory days | 57 | 56 | 88 | 76 | 72 | 62 |
| Payable days | 58 | 46 | 60 | 60 | 51 | 37 |
| NWC days | 9 | 18 | 37 | 26 | 29 | 33 |
| Leverage | ||||||
| Current ratio | 0.95 | 1.05 | 1.06 | 1.05 | 1.11 | 1.29 |
| Debt to EBITDA | 1.09 | 2.48 | 4.37 | 17.14 | 4.5 | 2.96 |
| Debt to equity | 1.61 | 1.02 | 0.98 | 1.13 | 1.02 | 0.58 |
| Interest coverage | 13.2 | 4.8 | 2.5 | 1.3 | 8.6 | 5.4 |
| Asset turnover | 3.5 | 3.86 | 3.15 | 3.5 | 4.4 | 4.93 |
| Return ratios | ||||||
| Return on assets % | 13.7% | 10.1% | 3.1% | 0.3% | 3.1% | 2.9% |
| Return on capital employed % | 129.8% | 39.9% | 16.9% | 7.7% | 24.2% | 18.2% |
| Return on equity % | 73.8% | 37.6% | 11.7% | 1.3% | 14.5% | 8.8% |
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.