Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 55% | 47% | 51.4% | 46.1% | — | ||
| 38.3% |
| 52.2% |
| EBITDA margin % | 28% | 24.6% | 24.3% | 20.1% | — | 20.4% | 21.2% |
| EBIT margin % | 24.3% | 20.9% | 20.3% | 17.1% | — | 2.9% | 17.8% |
| PAT margin % | 17.5% | 19.2% | 21.5% | 12.5% | — | -3% | 13.4% |
| Working capital | |||||||
| Receivable days | — | 144 | 158 | 132 | — | 141 | 185 |
| Inventory days | — | 165 | 235 | 209 | — | 119 | 94 |
| Payable days | — | 66 | 113 | 108 | — | 71 | 79 |
| NWC days | — | 242 | 280 | 232 | — | 189 | 199 |
| Leverage | |||||||
| Current ratio | — | 2.67 | 2.33 | 2.05 | — | 1.9 | 2.47 |
| Debt to EBITDA | — | 0 | 0 | 0.42 | — | 0.2 | 0.62 |
| Debt to equity | — | 0 | 0 | 0.08 | — | 0.05 | 0.16 |
| Interest coverage | 83.9 | 181.8 | 60.3 | 50.6 | — | 1.1 | 17.2 |
| Asset turnover | — | 0.65 | 0.55 | 0.64 | — | 0.79 | 0.85 |
| Return ratios | |||||||
| Return on assets % | — | 12.4% | 11.8% | 8% | — | -2.4% | 11.4% |
| Return on capital employed % | — | 17.7% | 16.5% | 16.1% | 0% | 4.2% | 21.6% |
| Return on equity % | — | 15.9% | 15.8% | 11.8% | — | -3.6% | 16% |
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.