Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 42.3% | 38.2% | 42.6% | 40.4% | 41.2% | 43.7% | 45.4% |
| EBITDA margin % | 7.5% | 6.1% | 8.9% | 7.4% | 5.6% | 4.9% | 6.1% |
| EBIT margin % | 5% | 3.1% | 6.7% | 5.3% | 2.8% | 2.1% | 3.3% |
| PAT margin % | 4.7% | 5.4% | 5.5% | 4% | 2.1% | 1.4% | 0.5% |
| Working capital | |||||||
| Receivable days | — | 95 | 85 | 86 | 90 | 89 | 90 |
| Inventory days | — | 199 | 251 | 208 | 226 | 261 | 255 |
| Payable days | — | 111 | 139 | 110 | 96 | 112 | 134 |
| NWC days | — | 182 | 197 | 185 | 220 | 237 | 212 |
| Leverage | |||||||
| Current ratio | — | 1.63 | 1.53 | 1.52 | 1.63 | 1.59 | 1.64 |
| Debt to EBITDA | — | 4.57 | 2.77 | 3.37 | 5.51 | 6.52 | 4.37 |
| Debt to equity | — | 0.38 | 0.38 | 0.44 | 0.44 | 0.46 | 0.39 |
| Interest coverage | 2.6 | 3.7 | 5.8 | 3.6 | 2 | 1.3 | 1.3 |
| Asset turnover | — | 0.77 | 0.82 | 0.91 | 0.8 | 0.77 | 0.78 |
| Return ratios | |||||||
| Return on assets % | — | 4.1% | 4.6% | 3.6% | 1.7% | 1.1% | 0.4% |
| Return on capital employed % | — | 9.8% | 12.8% | 10.9% | 6.1% | 5.1% | 5.5% |
| Return on equity % | — | 7.3% | 8.7% | 6.9% | 3% | 2% | 0.8% |
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.