Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 24.1% | 21.4% | 24.6% | 19.8% | 18.2% | 18.1% | 18.8% |
| EBITDA margin % | 8.7% | 7% | 8.7% | 6.5% | 7.5% | 9.2% | 8.9% |
| EBIT margin % | 6.8% | 4.8% | 6.4% | 4.9% | 6.4% | 8.3% | 7.8% |
| PAT margin % | -3.5% | 0.7% | 1.3% | 1.2% | 3.2% | 4.9% | 4.4% |
| Working capital | |||||||
| Receivable days | — | 132 | 128 | 128 | 92 | 98 | 104 |
| Inventory days | — | 85 | 108 | 137 | 92 | 74 | 89 |
| Payable days | — | 118 | 93 | 115 | 86 | 56 | 62 |
| NWC days | — | 99 | 143 | 150 | 98 | 116 | 131 |
| Leverage | |||||||
| Current ratio | — | 1.54 | 1.8 | 1.57 | 2.61 | 2.28 | 1.64 |
| Debt to EBITDA | — | 6.56 | 5.06 | 6.76 | 2.39 | 1.98 | 2.24 |
| Debt to equity | — | 0.68 | 0.53 | 0.71 | 0.25 | 0.33 | 0.37 |
| Interest coverage | 1.5 | 1 | 1.3 | 1.2 | 2.2 | 3.5 | 3.1 |
| Asset turnover | — | 0.64 | 0.61 | 0.66 | 0.84 | 1.06 | 0.87 |
| Return ratios | |||||||
| Return on assets % | — | 0.5% | 0.8% | 0.8% | 2.7% | 5.1% | 3.8% |
| Return on capital employed % | — | 8% | 9% | 8.7% | 13.1% | 15.7% | 12.5% |
| Return on equity % | — | 1.1% | 1.5% | 1.9% | 4.5% | 8.9% | 8.2% |
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.