Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 62.6% | 61.5% | 56.8% | 62.1% | 67.3% | 71.9% | 71.1% |
| EBITDA margin % | 9.1% | 11.6% | 6% | 9.3% | 12% | 12.9% | 11.2% |
| EBIT margin % | 6.6% | 8.4% | 2.6% | 6.9% | 9.8% | 10% | 7.7% |
| PAT margin % | 3.1% | 5.3% | 3.5% | 3.2% | 7.3% | -3.1% | 4.7% |
| Working capital | |||||||
| Receivable days | — | 68 | 44 | 37 | 26 | 38 | 37 |
| Inventory days | — | 100 | 66 | 60 | 89 | 95 | 79 |
| Payable days | — | 196 | 176 | 140 | 109 | 148 | 159 |
| NWC days | — | -28 | -66 | -43 | 5 | -16 | -44 |
| Leverage | |||||||
| Current ratio | — | 0.91 | 0.73 | 0.85 | 1.05 | 0.96 | 1.15 |
| Debt to EBITDA | — | 1.41 | 3.08 | 0.93 | 0.52 | 0.64 | 0.44 |
| Debt to equity | — | 0.21 | 0.28 | 0.18 | 0.11 | 0.16 | 0.09 |
| Interest coverage | 14.1 | 6.9 | 18 | 10.2 | 19.4 | 14.5 | 14.6 |
| Asset turnover | — | 0.83 | 0.91 | 1.33 | 1.26 | 1.29 | 1.35 |
| Return ratios | |||||||
| Return on assets % | — | 4.4% | 3.2% | 4.2% | 9.2% | -4% | 6.3% |
| Return on capital employed % | — | 11.6% | 6.9% | 14.5% | 17.8% | 17.4% | 15.2% |
| Return on equity % | — | 7% | 5.2% | 6.6% | 12.3% | -5.9% | 9% |
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.