Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 35.4% | 37.7% | 46.9% | 41.4% | ||||
| 24.6% |
| 23% |
| 18.8% |
| 20.9% |
| EBITDA margin % | 2.1% | -7.4% | 14.9% | 12% | 3.2% | 6.5% | -0.6% | 4.4% |
| EBIT margin % | 0.6% | -11.4% | 11% | 9% | 1.4% | 4.9% | -2.3% | 2.9% |
| PAT margin % | — | -19% | 14.6% | 13% | 11.8% | 3.4% | 3.1% | 4.9% |
| Working capital | ||||||||
| Receivable days | — | — | 46 | 79 | — | 100 | 96 | 121 |
| Inventory days | — | — | 67 | 112 | 99 | 51 | 62 | 58 |
| Payable days | — | — | 0 | 1 | — | 87 | 75 | 125 |
| NWC days | — | — | 113 | 190 | — | 64 | 83 | 54 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | 2.55 | 3.94 | 2.69 |
| Debt to EBITDA | — | — | 2.25 | 2.65 | 6.41 | 2.1 | — | 0 |
| Debt to equity | — | — | 0.12 | 0.15 | 0.18 | 0.15 | 0.02 | 0 |
| Interest coverage | 2.1 | -3.3 | 8.4 | 11.4 | 2.1 | 4.9 | 4.5 | 23.6 |
| Asset turnover | — | — | 0.31 | 0.38 | 0.62 | 0.77 | 0.87 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | — | — | 4.5% | 4.9% | 7.4% | 2.6% | 2.7% | 4.4% |
| Return on capital employed % | — | — | — | — | — | 5.5% | 3.4% | 8.8% |
| Return on equity % | — | — | 5.3% | 6.3% | 10.5% | 3.7% | 3.4% | 6.3% |
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.