Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 50.8% | 51.1% | 46.2% | 48.3% | 48.4% | 48.6% | 48.1% | 48.2% |
| EBITDA margin % | 11.1% | 14.1% | 10.8% | 14.9% | 12.3% | 12.5% | 13.9% | 14.9% |
| EBIT margin % | 6.9% | 8.6% | 5.3% | 10.8% | 8.6% | 8.9% | 10.4% | 11.5% |
| PAT margin % | 2.1% | 3.8% | 1.3% | 7.6% | 5.1% | 4.9% | 6.9% | 7.9% |
| Working capital | ||||||||
| Receivable days | 39 | 33 | 46 | 44 | 49 | 48 | 51 | 50 |
| Inventory days | 45 | 49 | 16 | 21 | 17 | 17 | 16 | 15 |
| Payable days | 1 | 60 | 74 | 79 | 82 | 88 | 72 | 63 |
| NWC days | 83 | 22 | -12 | -14 | -16 | -23 | -6 | 3 |
| Leverage | ||||||||
| Current ratio | 1.17 | 1.13 | 1.79 | 1.73 | 1.3 | 1.13 | 1.54 | 1.06 |
| Debt to EBITDA | 3.24 | 2.11 | 2.51 | 1.21 | 1.32 | 1.32 | 1.75 | 1.5 |
| Debt to equity | 1.04 | 1 | 0.62 | 0.47 | 0.44 | 0.46 | 0.64 | 0.6 |
| Interest coverage | 2.1 | 1.9 | 1.4 | 4.4 | 4 | 4 | 5.4 | 6.9 |
| Asset turnover | 1.05 | 0.99 | 0.92 | 1.11 | 1.15 | 1.14 | 1.06 | 1.14 |
| Return ratios | ||||||||
| Return on assets % | 2.2% | 3.8% | 1.2% | 8.4% | 5.9% | 5.6% | 7.3% | 9% |
| Return on capital employed % | 9.8% | 12.3% | 6.6% | 16.5% | 13.9% | 15.6% | 17.5% | 19.4% |
| Return on equity % | 6% | 12.9% | 3% | 19.7% | 13.6% | 13.5% | 18.3% | 21.1% |
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.