Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.8% | 97.8% | 30.4% | 27.7% | 29% | 35.9% | 35.4% | 37.8% |
| EBITDA margin % | 7.3% | 8.6% | 8.2% | 4.5% | 8.8% | 11% | 9.1% | 10.6% |
| EBIT margin % | 5.1% | 6.7% | 6.1% | 2% | 7.2% | 9.5% | 7.5% | 8.9% |
| PAT margin % | 4% | 4.8% | 5.5% | -2.3% | 6.8% | 8.1% | 5.4% | 7.2% |
| Working capital | ||||||||
| Receivable days | 72 | 60 | 59 | 86 | 51 | 61 | 63 | 74 |
| Inventory days | 3,528 | 1,653 | 51 | 70 | 70 | 77 | 64 | 78 |
| Payable days | — | — | — | 87 | 60 | 45 | 63 | 100 |
| NWC days | — | — | — | 69 | 61 | 93 | 64 | 53 |
| Leverage | ||||||||
| Current ratio | 1.7 | 1.8 | 1.58 | 1.6 | 2.21 | 2.27 | 2.56 | 2.14 |
| Debt to EBITDA | 2.39 | 1.48 | 1.51 | 1.39 | 0.01 | 0.37 | 0.01 | 0.01 |
| Debt to equity | 0.33 | 0.25 | 0.27 | 0.12 | 0 | 0.09 | 0 | 0 |
| Interest coverage | 6.3 | 4.9 | 4.9 | 2.5 | 14.2 | 29.7 | 22.6 | 54.5 |
| Asset turnover | 1.09 | 1.2 | 1.25 | 1.19 | 1.68 | 1.58 | 1.62 | 1.37 |
| Return ratios | ||||||||
| Return on assets % | 4.3% | 5.7% | 6.8% | -2.8% | 11.5% | 12.7% | 8.7% | 9.9% |
| Return on capital employed % | 13.1% | 16.8% | 16% | 6.6% | 19.9% | 31.3% | 20.4% | 21.8% |
| Return on equity % | 7.5% | 9.4% | 11.8% | -4.4% | 16% | 18.3% | 11.8% | 14.8% |
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.