Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 95.2% | 49.3% | 50.3% | 48.7% | 46.7% | 52.5% | 52.4% | 51.7% |
| EBITDA margin % | 10% | 9.4% | 9.1% | 9.8% | 9.5% | 10.9% | 10.3% | 10.8% |
| EBIT margin % | 6.7% | 5.5% | 3.5% | 6.4% | 6.5% | 7.5% | 7.1% | 7.7% |
| PAT margin % | 3.2% | 1.3% | -0.5% | 3% | 4.9% | 4.6% | 4.4% | 4.6% |
| Working capital | ||||||||
| Receivable days | — | — | 79 | 50 | 42 | 50 | 52 | 57 |
| Inventory days | — | — | 168 | 196 | 135 | 197 | 197 | 177 |
| Payable days | — | — | 203 | 193 | 101 | 136 | 152 | 160 |
| NWC days | — | — | 44 | 53 | 76 | 111 | 96 | 73 |
| Leverage | ||||||||
| Current ratio | — | — | 1.08 | 1.11 | 1.1 | 1.12 | 1.08 | 1.14 |
| Debt to EBITDA | — | — | 3.83 | 1.98 | 1.75 | 1.57 | 1.61 | 1.43 |
| Debt to equity | — | — | 0.65 | 0.53 | 0.42 | 0.37 | 0.36 | 0.36 |
| Interest coverage | 2.6 | 1.9 | 1 | 3.2 | 3.6 | 3.9 | 4 | 4.7 |
| Asset turnover | — | — | 0.75 | 1.04 | 1.21 | 1.07 | 1.03 | 1.05 |
| Return ratios | ||||||||
| Return on assets % | — | — | -0.4% | 3.1% | 6% | 4.9% | 4.5% | 4.8% |
| Return on capital employed % | — | — | 5.6% | 13.8% | 14.5% | 15.1% | 15.1% | 16.2% |
| Return on equity % | — | — | -1% | 8.2% | 12.3% | 10% | 9.7% | 10.6% |
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.