Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 50.3% | 49.1% | 46.7% | 47.9% | 49.5% | 51.4% |
| EBITDA margin % | 6.3% | 5.7% | 5% | 7.8% | 9.1% | 8.8% |
| EBIT margin % | 1.7% | 1.4% | 1.4% | 3.6% | 5.1% | 4.9% |
| PAT margin % | 1.2% | 0.2% | -0.2% | 1.5% | 1.8% | 0.8% |
| Working capital | ||||||
| Receivable days | — | 124 | 76 | 89 | 75 | 69 |
| Inventory days | — | 219 | 201 | 170 | 165 | 188 |
| Payable days | — | 50 | 27 | 28 | 30 | 86 |
| NWC days | — | 293 | 249 | 231 | 210 | 171 |
| Leverage | ||||||
| Current ratio | — | 2.45 | 2.5 | 1.69 | 1.26 | 0.98 |
| Debt to EBITDA | — | 3.91 | 3.7 | 3.29 | 3.73 | 6.66 |
| Debt to equity | — | 0.24 | 0.26 | 0.28 | 0.4 | 0.74 |
| Interest coverage | 1 | 1.1 | 0.8 | 2 | 1.8 | 1.4 |
| Asset turnover | — | 0.73 | 0.91 | 0.72 | 0.7 | 0.58 |
| Return ratios | ||||||
| Return on assets % | — | 0.1% | -0.2% | 1.1% | 1.3% | 0.5% |
| Return on capital employed % | — | 1.4% | 1.7% | 3.9% | 5.7% | 5.4% |
| Return on equity % | — | 0.2% | -0.3% | 1.7% | 2.1% | 1% |
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.