Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 32.1% | 35.4% | 31.6% | 31.2% | 26.6% | 26.4% |
| EBITDA margin % | 9.3% | 13.6% | 10.2% | 9.3% | 7.5% | 5.8% |
| EBIT margin % | 6.1% | 10.6% | 7.7% | 6.8% | 5.1% | 3.4% |
| PAT margin % | 3% | 6.3% | 4.4% | 3.6% | 2.7% | 1.9% |
| Working capital | ||||||
| Receivable days | 33 | 21 | 20 | 21 | 28 | 24 |
| Inventory days | 78 | 53 | 66 | 89 | 75 | 105 |
| Payable days | 36 | 26 | 21 | 29 | 26 | 26 |
| NWC days | 75 | 48 | 65 | 81 | 77 | 102 |
| Leverage | ||||||
| Current ratio | 1.23 | 1.25 | 1.31 | 1.31 | 1.47 | 1.59 |
| Debt to EBITDA | 4.23 | 1.75 | 2.17 | 2.53 | 2.54 | 4 |
| Debt to equity | 0.82 | 0.67 | 0.69 | 0.65 | 0.52 | 0.58 |
| Interest coverage | 2.2 | 5.3 | 4 | 3.1 | 2.8 | 2.1 |
| Asset turnover | 0.88 | 1.37 | 1.52 | 1.35 | 1.45 | 1.32 |
| Return ratios | ||||||
| Return on assets % | 2.6% | 8.6% | 6.6% | 4.9% | 3.9% | 2.5% |
| Return on capital employed % | 8.1% | 20% | 17.6% | 15.2% | 11.8% | 9% |
| Return on equity % | 6.3% | 17.7% | 13.6% | 9.9% | 7.4% | 4.8% |
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.