Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 10.8% | 8.5% | 8.6% | 6.7% | 5.9% | 4.6% |
| EBITDA margin % | 8.7% | 7.3% | 6.6% | 5.3% | 4.6% | 2.7% |
| EBIT margin % | 7% | 5.8% | 5% | 4.2% | 3.7% | 1.4% |
| PAT margin % | 5.8% | 4.9% | 4.4% | 4.9% | 2.8% | 0.6% |
| Working capital | ||||||
| Receivable days | — | 269 | 278 | 157 | 114 | 246 |
| Inventory days | — | 15 | 8 | 4 | 4 | 5 |
| Payable days | — | 197 | 156 | 15 | 66 | 141 |
| NWC days | — | 88 | 130 | 146 | 53 | 110 |
| Leverage | ||||||
| Current ratio | — | 1.34 | 1.55 | 4.25 | 1.58 | 1.45 |
| Debt to EBITDA | — | 0.84 | 0.25 | 0.23 | 0.26 | 5.03 |
| Debt to equity | — | 0.06 | 0.02 | 0.02 | 0.02 | 0.15 |
| Interest coverage | 5.6 | 6.5 | 6.5 | 7 | 3.8 | 1.7 |
| Asset turnover | — | 0.53 | 0.52 | 0.92 | 1.07 | 0.66 |
| Return ratios | ||||||
| Return on assets % | — | 2.6% | 2.3% | 4.5% | 3% | 0.4% |
| Return on capital employed % | — | 4.5% | 3.9% | 6.5% | 4.6% | 1.5% |
| Return on equity % | — | 5% | 4.1% | 7.4% | 4.3% | 0.7% |
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.