Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 46.4% | 56.8% | 53.1% | 41.8% | 41.6% | ||
| 39.5% |
| 51% |
| EBITDA margin % | 7.6% | 14.4% | 13.7% | 5.9% | 4.3% | 3.5% | 8.9% |
| EBIT margin % | 5.8% | 12.4% | 12.4% | 4.9% | 3% | 2.1% | 7.2% |
| PAT margin % | 5.2% | 11% | 9.7% | 4.4% | 3% | 3.2% | 6.7% |
| Working capital | |||||||
| Receivable days | 15 | 26 | 23 | 24 | 21 | 17 | 7 |
| Inventory days | 44 | 60 | 61 | 49 | 46 | 34 | 132 |
| Payable days | 29 | 32 | 27 | 27 | 38 | 26 | 22 |
| NWC days | 29 | 55 | 57 | 46 | 29 | 26 | 116 |
| Leverage | |||||||
| Current ratio | 2.52 | 3.42 | 4.27 | 3.62 | 4.59 | 2.35 | 1.6 |
| Debt to EBITDA | 0.4 | 0.27 | 0.17 | 0.49 | 0.05 | 1.9 | 3.43 |
| Debt to equity | 0.08 | 0.07 | 0.06 | 0.08 | 0 | 0.13 | 0.44 |
| Interest coverage | 9.4 | 21.7 | 41.7 | 19.2 | 12 | 10.6 | 8.5 |
| Asset turnover | 1.82 | 1.44 | 1.84 | 1.94 | 1.53 | 1.35 | 0.86 |
| Return ratios | |||||||
| Return on assets % | 9.4% | 15.9% | 17.9% | 8.5% | 4.6% | 4.3% | 5.7% |
| Return on capital employed % | 16.6% | 26.5% | 32.8% | 15.1% | 9.3% | 6.5% | 11.7% |
| Return on equity % | 13.1% | 21.4% | 23.4% | 11.4% | 5.8% | 6.4% | 9.6% |
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.