Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 15.9% | 16.7% | 17.1% | 16.1% | 15.3% | 18.3% | 17.9% | 18.4% |
| EBITDA margin % | 7.7% | 7.8% | 7.3% | 6.6% | 6% | 7.3% | 7.7% | 7.8% |
| EBIT margin % | 5.5% | 5.7% | 4.2% | 4% | 4% | 4.5% | 5.4% | 5.2% |
| PAT margin % | 3.4% | 4.1% | 2.8% | 2.7% | 2.4% | 2.1% | 2.5% | 1.9% |
| Working capital | ||||||||
| Receivable days | 104 | — | 129 | 114 | 93 | 85 | 64 | 67 |
| Inventory days | 88 | — | 104 | 87 | 68 | 56 | 74 | 90 |
| Payable days | 0 | — | 191 | 176 | 143 | 144 | 141 | 104 |
| NWC days | 192 | — | 42 | 25 | 17 | -3 | -4 | 53 |
| Leverage | ||||||||
| Current ratio | 1.29 | — | 1.31 | 1.13 | 1.11 | 1.02 | 1.02 | 1.13 |
| Debt to EBITDA | 1.09 | — | 1.74 | 3.75 | 3.22 | 2.91 | 2.54 | 2.84 |
| Debt to equity | 0.24 | — | 0.24 | 0.59 | 0.7 | 0.69 | 0.85 | 0.62 |
| Interest coverage | 6.5 | 5.6 | 3.9 | 4.3 | 3 | 2.2 | 2.9 | 2.6 |
| Asset turnover | 1.16 | 3.76 | 0.84 | 0.86 | 1.11 | 1.02 | 1.18 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | 4% | 15.6% | 2.3% | 2.3% | 2.6% | 2.1% | 3% | 1.6% |
| Return on capital employed % | 14.4% | — | 8.4% | 9.6% | 13.1% | 11.8% | 17% | 12.6% |
| Return on equity % | 9.6% | — | 5.2% | 6.4% | 8.6% | 6.8% | 11% | 5.2% |
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.