Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 28% | 30.2% | 32% | 34% | 34.2% | ||
| 31.8% |
| 30.3% |
| EBITDA margin % | 10.7% | 9% | 10.3% | 10% | 12.7% | 13.7% | 14.9% |
| EBIT margin % | 3.4% | -1.3% | 0.9% | 2% | 6.1% | 8.4% | 8.9% |
| PAT margin % | 1.3% | -2.4% | -1.9% | -1.5% | 2.4% | 3.8% | 5.3% |
| Working capital | |||||||
| Receivable days | — | 0 | 1 | 0 | 0 | 0 | 0 |
| Inventory days | — | 293 | 248 | 184 | 199 | 159 | 195 |
| Payable days | — | 128 | 102 | 71 | 92 | 105 | 79 |
| NWC days | — | 166 | 147 | 113 | 107 | 54 | 116 |
| Leverage | |||||||
| Current ratio | — | 1.56 | 1.59 | 1.59 | 1.43 | 1.23 | 1.44 |
| Debt to EBITDA | — | 1.11 | 0.84 | 0.64 | 0.61 | 0.45 | 0.56 |
| Debt to equity | — | 0.2 | 0.21 | 0.22 | 0.33 | 0.33 | 0.28 |
| Interest coverage | 0.9 | 0.5 | 0.6 | 0.6 | 1.7 | 2.4 | 2.9 |
| Asset turnover | — | 0.66 | 0.79 | 1.06 | 1.13 | 1.16 | 1.27 |
| Return ratios | |||||||
| Return on assets % | — | -1.6% | -1.5% | -1.6% | 2.7% | 4.4% | 6.7% |
| Return on capital employed % | — | 2.8% | 3.7% | 4% | 12.3% | 18.9% | 22% |
| Return on equity % | — | -4.8% | -4.5% | -5.2% | 10.1% | 20.8% | 18% |
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.