Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 69.9% | 70.4% | 72.4% | 62.7% | 59.4% | 63.2% | 45.4% | 83.9% |
| EBITDA margin % | 28.9% | 27.1% | 31.1% | 19.8% | 20.5% | 22.3% | 12.1% | 7.2% |
| EBIT margin % | 24.2% | 21.5% | 25.2% | 14.3% | 15% | 15.8% | 8.5% | 3.4% |
| PAT margin % | 17.7% | 19.3% | 22.2% | 10.4% | 10% | 10.7% | 12.1% | 7% |
| Working capital | ||||||||
| Receivable days | 75 | 67 | — | 71 | 56 | 64 | 19 | 39 |
| Inventory days | 152 | 134 | — | 151 | 118 | 148 | 87 | 304 |
| Payable days | 63 | 60 | — | 70 | 44 | 59 | 40 | 107 |
| NWC days | 165 | 142 | — | 152 | 130 | 154 | 66 | 235 |
| Leverage | ||||||||
| Current ratio | 2.24 | 2.89 | — | 1.86 | 2.13 | 2.21 | 6.95 | 4.19 |
| Debt to EBITDA | 0.87 | 1.35 | — | 2.08 | 1.46 | 1.28 | 0.08 | 3.63 |
| Debt to equity | 0.27 | 0.3 | — | 0.33 | 0.27 | 0.21 | 0 | 0.1 |
| Interest coverage | 13.1 | 9.8 | 16.4 | 8.6 | 6.4 | 6.9 | 16 | 5.1 |
| Asset turnover | 0.68 | 0.55 | — | 0.51 | 0.6 | 0.52 | 0.33 | 0.3 |
| Return ratios | ||||||||
| Return on assets % | 12.1% | 10.7% | — | 5.3% | 6% | 5.5% | 4% | 2.1% |
| Return on capital employed % | 22% | 16.7% | — | 10.1% | 11.5% | 10.3% | 2.2% | 2.3% |
| Return on equity % | 18.7% | 16.1% | — | 8.2% | 8.9% | 7.8% | 4.9% | 2.8% |
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.