Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 62.4% | 60.3% | 69.3% | 55.7% | 52.5% | 59.4% | 61.2% | 59% |
| EBIT margin % | 51.9% | 47.8% | 52.5% | 38.5% | 36.1% | 44.8% | 47.1% | 44.7% |
| PAT margin % | 32.6% | 37% | 40.2% | 30.1% | 25.9% | 30.3% | 35.6% | 33% |
| Working capital | ||||||||
| Receivable days | 114 | 81 | 85 | 57 | 69 | 50 | 52 | 60 |
| Inventory days | 45 | 68 | 94 | 20 | 17 | 15 | 16 | 16 |
| Payable days | 42 | 48 | 96 | 51 | 67 | 73 | 82 | 63 |
| NWC days | 117 | 101 | 83 | 26 | 18 | -8 | -15 | 13 |
| Leverage | ||||||||
| Current ratio | 3.56 | 1.41 | 1.76 | 1.47 | 1.36 | 1.05 | 0.9 | 1.39 |
| Debt to EBITDA | 2.92 | 3.96 | 4.02 | 5.15 | 4.61 | 2.92 | 2.41 | 2.41 |
| Debt to equity | 0.98 | 1.06 | 1.14 | 1.2 | 1.11 | 0.87 | 0.73 | 0.57 |
| Interest coverage | 4.6 | 4.8 | 3.8 | 3.3 | 3.8 | 4.7 | 5.7 | 4.2 |
| Asset turnover | 0.24 | 0.19 | 0.17 | 0.17 | 0.18 | 0.22 | 0.23 | 0.21 |
| Return ratios | ||||||||
| Return on assets % | 7.8% | 7.2% | 6.7% | 5.1% | 4.7% | 6.8% | 8.2% | 6.9% |
| Return on capital employed % | 17.1% | 14.7% | 15% | 10.9% | 9.7% | 13.1% | 14.7% | 13.7% |
| Return on equity % | 17.5% | 16.5% | 16.5% | 12.5% | 11.8% | 15.3% | 17.7% | 13.3% |
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.