Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 56.8% | 57.3% | 56.4% | 38.7% | 43.1% | 40.8% |
| EBITDA margin % | 13.2% | 15.7% | 17.8% | 16.7% | 17.9% | 16.2% |
| EBIT margin % | 9.1% | 12% | 14.6% | 14.9% | 16.1% | 14.3% |
| PAT margin % | 5.9% | 9.9% | 10% | 13.7% | 41.1% | 7% |
| Working capital | ||||||
| Receivable days | 129 | 120 | 132 | 124 | 160 | 168 |
| Inventory days | 240 | 218 | 209 | 127 | 143 | 128 |
| Payable days | 208 | 217 | 274 | 175 | 177 | 142 |
| NWC days | 160 | 120 | 68 | 76 | 126 | 154 |
| Leverage | ||||||
| Current ratio | 1.22 | 1.36 | 1.35 | 1.39 | 1.91 | 1.68 |
| Debt to EBITDA | 2.98 | 1.75 | 1.33 | 0.85 | 0.69 | 1.5 |
| Debt to equity | 0.79 | 0.51 | 0.44 | 0.28 | 0.17 | 0.32 |
| Interest coverage | 4.7 | 5.7 | 9.1 | 11.1 | 9.6 | 7.6 |
| Asset turnover | 0.64 | 0.66 | 0.65 | 0.73 | 0.63 | 0.62 |
| Return ratios | ||||||
| Return on assets % | 3.8% | 6.5% | 6.5% | 10% | 26% | 4.3% |
| Return on capital employed % | 13.3% | 16.7% | 21.5% | 27.2% | 22.1% | 17.5% |
| Return on equity % | 11.9% | 18.2% | 18.6% | 27.1% | 54.9% | 9.2% |
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.