Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 50.9% | 52.8% | 52.9% | 42% | 39.1% | 36% | 35.4% |
| EBITDA margin % | 23.4% | 21.8% | 27.6% | 16.5% | 15.3% | 13.8% | 14.1% |
| EBIT margin % | 18.9% | 16.6% | 23.4% | 11.8% | 9.4% | 7.8% | 8.4% |
| PAT margin % | 13.1% | 11.9% | 18.7% | 8.2% | 6.5% | 4.6% | 5.1% |
| Working capital | |||||||
| Receivable days | — | 64 | 73 | 52 | 47 | 39 | 62 |
| Inventory days | — | 160 | 156 | 98 | 109 | 114 | 118 |
| Payable days | — | 99 | 54 | 38 | 49 | 97 | 126 |
| NWC days | — | 126 | 175 | 111 | 107 | 56 | 54 |
| Leverage | |||||||
| Current ratio | — | 0.99 | 1.4 | 0.88 | 0.96 | 0.84 | 0.83 |
| Debt to EBITDA | — | 2.54 | 1.15 | 2.64 | 3.26 | 3.79 | 4.21 |
| Debt to equity | — | 0.71 | 0.37 | 0.58 | 0.6 | 0.68 | 0.83 |
| Interest coverage | 6.4 | 8.7 | 14.4 | 4.6 | 2.9 | 2.1 | 2.1 |
| Asset turnover | — | 0.59 | 0.72 | 0.77 | 0.66 | 0.65 | 0.62 |
| Return ratios | |||||||
| Return on assets % | — | 7% | 13.5% | 6.4% | 4.3% | 3% | 3.2% |
| Return on capital employed % | — | 14.3% | 26.1% | 11.9% | 9.5% | 7.9% | 8.8% |
| Return on equity % | — | 15.3% | 22.1% | 11.1% | 7.9% | 5.9% | 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.