Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 79.3% | 65.9% | 63.3% | 68% | 55% | 60.9% | 70.8% | 73.4% |
| EBITDA margin % | 71.6% | 37.8% | 39.8% | 37.4% | 34% | 37.2% | 35.4% | 32.9% |
| EBIT margin % | 57% | 25.7% | 26.4% | 24.7% | 21.9% | 26.5% | 27.4% | 25.8% |
| PAT margin % | 29% | 7.7% | 13% | 17.3% | 17.4% | 7.2% | 3.9% | 8.7% |
| Working capital | ||||||||
| Receivable days | 24 | 36 | 37 | 35 | 39 | 34 | 65 | 76 |
| Inventory days | 16 | 54 | 23 | 25 | 9 | 14 | 33 | 33 |
| Payable days | 18 | 181 | 124 | 163 | 110 | 97 | 155 | 248 |
| NWC days | 22 | -92 | -64 | -103 | -61 | -48 | -58 | -139 |
| Leverage | ||||||||
| Current ratio | 0.75 | 0.6 | 0.71 | 0.8 | 0.99 | 1.01 | 1.37 | 1.15 |
| Debt to EBITDA | 3.4 | 6.49 | 6.82 | 7.09 | 7.57 | 6 | 4.78 | 5.38 |
| Debt to equity | 2.28 | 3.87 | 3.02 | 3.01 | 2.93 | 2.93 | 1.82 | 1.92 |
| Interest coverage | 2.7 | 1.5 | 1.5 | 1.4 | 1.2 | 1.8 | 2.2 | 2.2 |
| Asset turnover | 0.23 | 0.22 | 0.23 | 0.24 | 0.25 | 0.28 | 0.32 | 0.3 |
| Return ratios | ||||||||
| Return on assets % | 6.6% | 1.7% | 3% | 4.1% | 4.3% | 2% | 1.2% | 2.6% |
| Return on capital employed % | 15.8% | 10.4% | 10% | 8.6% | 7.8% | 10.3% | 12.5% | 11.1% |
| Return on equity % | 27.2% | 12.1% | 14.5% | 19.6% | 19.9% | 9.5% | 4.2% | 9.4% |
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.