Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 10.3% | 9.9% | 17.6% | 16.2% | 12.1% | 18.1% | 21.7% | 23% |
| EBITDA margin % | 6.6% | 3.9% | 10.1% | 11.5% | 7.8% | 13.1% | 16.2% | 17.4% |
| EBIT margin % | 5.7% | 2.9% | 8.2% | 9.8% | 6.3% | 11.2% | 14% | 15% |
| PAT margin % | 4.5% | 1.9% | 6.5% | 8.3% | 5.9% | 9.5% | 11.6% | 13.3% |
| Working capital | ||||||||
| Receivable days | — | — | — | 58 | 35 | 27 | 37 | 21 |
| Inventory days | — | — | — | 9 | 7 | 4 | 13 | 7 |
| Payable days | — | — | — | 63 | 42 | 28 | 31 | 40 |
| NWC days | — | — | — | 3 | 1 | 3 | 19 | -12 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.01 | 2.46 | 2.76 | 3.21 | 1.71 |
| Debt to EBITDA | — | — | — | 0.72 | 1.48 | 1.8 | 2.63 | 1.66 |
| Debt to equity | — | — | — | 0.18 | 0.28 | 0.43 | 0.62 | 0.4 |
| Interest coverage | 12.5 | 7.3 | 20.4 | 22.7 | 8.3 | 8.4 | 7 | 10.8 |
| Asset turnover | — | — | — | 1.15 | 1.2 | 0.87 | 0.6 | 0.58 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 9.5% | 7.1% | 8.3% | 7% | 7.6% |
| Return on capital employed % | — | — | — | 17.2% | 16.5% | 15% | 13.6% | 15.1% |
| Return on equity % | — | — | — | 17.7% | 14.5% | 17.3% | 17% | 18.3% |
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.