Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 56.8% | 57.8% | 50.8% | 47.7% | 47.8% | 49.6% | 48.3% | 47.2% |
| EBITDA margin % | 16.4% | 13.4% | 14.9% | 10.6% | 10.1% | 10.7% | 10.8% | 10.3% |
| EBIT margin % | 15.5% | 11.6% | 13.2% | 9.3% | 8.5% | 9.2% | 9.3% | 8.8% |
| PAT margin % | 2.9% | 2.6% | 4.3% | 2.6% | 3.4% | 3.6% | 5.4% | 5.7% |
| Working capital | ||||||||
| Receivable days | — | — | 118 | 98 | 91 | 80 | 69 | 46 |
| Inventory days | — | — | 274 | 233 | 213 | 177 | 151 | 134 |
| Payable days | — | — | 102 | 110 | 91 | 66 | 61 | 65 |
| NWC days | — | — | 290 | 221 | 213 | 191 | 159 | 115 |
| Leverage | ||||||||
| Current ratio | — | — | 1.45 | 1.53 | 1.61 | 1.68 | 1.69 | 1.69 |
| Debt to EBITDA | — | — | 2.37 | 2.27 | 2 | 1.27 | 0.66 | 0.67 |
| Debt to equity | — | — | 0.64 | 0.47 | 0.39 | 0.27 | 0.15 | 0.15 |
| Interest coverage | 1.5 | 1.6 | 1.9 | 1.8 | 2.1 | 2.3 | 3.4 | 4.4 |
| Asset turnover | — | — | 0.76 | 0.86 | 0.91 | 1 | 1.07 | 1.16 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.3% | 2.3% | 3.1% | 3.6% | 5.8% | 6.6% |
| Return on capital employed % | — | — | 20.9% | 17.9% | 18.1% | 17.3% | 19.3% | 21.1% |
| Return on equity % | — | — | 7.8% | 5.2% | 6.6% | 7.1% | 11.6% | 12.7% |
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.