Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 30.4% | 30.5% | 26.8% | 26.4% | 27.5% | 30.2% | 31.6% |
| EBITDA margin % | 6.4% | 5.9% | 6.4% | 4.7% | 5.3% | 7.4% | 7.6% |
| EBIT margin % | 3.5% | 2.4% | 3.9% | 3.1% | 3.6% | 5.5% | 5.4% |
| PAT margin % | 1.8% | 0% | 1.9% | 1.2% | 1.2% | 2.4% | 2.9% |
| Working capital | |||||||
| Receivable days | — | — | — | 65 | 53 | 62 | 55 |
| Inventory days | — | — | — | 90 | 89 | 85 | 73 |
| Payable days | — | — | — | 124 | 121 | 135 | 131 |
| NWC days | — | — | — | 31 | 21 | 12 | -3 |
| Leverage | |||||||
| Current ratio | — | — | — | 0.93 | 0.94 | 0.93 | 0.87 |
| Debt to EBITDA | — | — | — | 3.59 | 2.9 | 2.06 | 1.67 |
| Debt to equity | — | — | — | 1.03 | 0.92 | 0.79 | 0.66 |
| Interest coverage | 1.5 | 1 | 2.3 | 1.6 | 1.5 | 2.2 | 2.7 |
| Asset turnover | — | — | — | 1.55 | 1.6 | 1.49 | 1.55 |
| Return ratios | |||||||
| Return on assets % | — | — | — | 1.8% | 1.9% | 3.5% | 4.5% |
| Return on capital employed % | — | — | — | 16% | 16.8% | 21% | 23.1% |
| Return on equity % | — | — | — | 7.1% | 7% | 12.2% | 15.2% |
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.