Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 42.8% | 46.3% | 40.8% | 40.8% | 45% | 41.9% | 42% |
| EBITDA margin % | 10.2% | 11.8% | 6.6% | 7.7% | 10.1% | 6.9% | 7.7% |
| EBIT margin % | 5.5% | 6.4% | 3.4% | 4.6% | 6.6% | 2.9% | 3.8% |
| PAT margin % | 3.9% | 3.8% | 1.7% | 2.6% | 3.7% | 0.6% | 2% |
| Working capital | |||||||
| Receivable days | — | 46 | 35 | 27 | 35 | 39 | 41 |
| Inventory days | — | 149 | 198 | 161 | 159 | 154 | 128 |
| Payable days | — | 104 | 102 | 85 | 92 | 97 | 92 |
| NWC days | — | 92 | 131 | 102 | 103 | 96 | 77 |
| Leverage | |||||||
| Current ratio | — | 1.28 | 1.33 | 1.06 | 1.06 | 0.94 | 0.89 |
| Debt to EBITDA | — | 0.64 | 3.32 | 2.89 | 2.81 | 3.92 | 2.73 |
| Debt to equity | — | 0.18 | 0.57 | 0.64 | 0.75 | 0.74 | 0.64 |
| Interest coverage | 3.3 | 4.1 | 3 | 3.7 | 4.5 | 1.9 | 3 |
| Asset turnover | — | 1.2 | 1.07 | 1.22 | 1.09 | 1.09 | 1.2 |
| Return ratios | |||||||
| Return on assets % | — | 4.6% | 1.8% | 3.2% | 4% | 0.7% | 2.3% |
| Return on capital employed % | — | 12.4% | 7.3% | 9.9% | 12.8% | 6.1% | 9.2% |
| Return on equity % | — | 9% | 4.5% | 7.5% | 9.7% | 1.7% | 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.