Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 51.1% | 54.3% | 47.7% | 49.2% | 66.6% | ||
| 39% |
| 46.4% |
| EBITDA margin % | 11% | 20% | 18% | 19.7% | 34.6% | 15.6% | 23% |
| EBIT margin % | -0.8% | 8.8% | 10.1% | 10.5% | 17.4% | 8.6% | 15.6% |
| PAT margin % | -4% | 10.3% | 8.3% | 1.8% | 26% | 2.3% | 8.8% |
| Working capital | |||||||
| Receivable days | 78 | 97 | 80 | 67 | 78 | 38 | 34 |
| Inventory days | 209 | 210 | 289 | 269 | 1,034 | 166 | 179 |
| Payable days | 8 | 178 | 231 | 160 | 411 | 108 | 150 |
| NWC days | 280 | 129 | 138 | 176 | 702 | 95 | 63 |
| Leverage | |||||||
| Current ratio | 1.87 | 2.05 | 1.68 | 1.63 | 1.59 | 1.69 | 1.49 |
| Debt to EBITDA | 7.7 | 7.1 | 6.51 | 7.65 | 6.78 | 6.48 | 5.27 |
| Debt to equity | 0.3 | 0.48 | 0.59 | 0.7 | 0.68 | 0.73 | 0.87 |
| Interest coverage | 1.5 | 2.9 | 2.4 | 2 | 1.5 | 1.8 | 2.3 |
| Asset turnover | 0.24 | 0.21 | 0.28 | 0.25 | 0.15 | 0.36 | 0.32 |
| Return ratios | |||||||
| Return on assets % | -1% | 2.2% | 2.3% | 0.4% | 3.8% | 0.8% | 2.8% |
| Return on capital employed % | 3.3% | 6.2% | 6.4% | 6.2% | 7.3% | 8.6% | 10.4% |
| Return on equity % | -1.4% | 3.5% | 4.2% | 0.8% | 7.5% | 1.6% | 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.