Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 6.1% | 6.6% | 8.9% | 12.9% | 11.9% |
| EBITDA margin % | 3.1% | 3.2% | 4.9% | 7.9% | 7.3% |
| EBIT margin % | 2.8% | 3% | 4.7% | 7.5% | 6.8% |
| PAT margin % | 1.5% | 1.5% | 2.5% | 3.1% | 3.3% |
| Working capital | |||||
| Receivable days | 75 | 64 | 96 | — | 121 |
| Inventory days | 51 | 63 | 74 | 117 | 129 |
| Payable days | 80 | 78 | 49 | — | 111 |
| NWC days | 46 | 50 | 122 | — | 139 |
| Leverage | |||||
| Current ratio | — | 1.68 | 1.5 | 1.29 | 1.07 |
| Debt to EBITDA | 2.8 | 2.32 | 4.6 | — | 5.52 |
| Debt to equity | 1.03 | 0.34 | 0.94 | — | 1.83 |
| Interest coverage | 3.1 | 2.8 | 2.7 | 2.6 | 2.2 |
| Asset turnover | 2.6 | 1.98 | 1.64 | 1.26 | 1.1 |
| Return ratios | |||||
| Return on assets % | 3.8% | 3% | 4% | 3.9% | 3.6% |
| Return on capital employed % | — | 13.1% | 20.5% | 30.4% | 34.3% |
| Return on equity % | 17.6% | 7% | 10.3% | — | 15.1% |
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.