Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 68.3% | 67.9% | 65.4% | 71.1% | 65.6% | 62.3% | 63.5% | 70.3% |
| EBITDA margin % | 17.6% | 16.5% | 18.4% | 24.1% | 19.8% | 16.9% | 16.7% | 18.4% |
| EBIT margin % | 13.5% | 11.3% | 13% | 19% | 15.8% | 12.9% | 12.5% | 12.7% |
| PAT margin % | 6.5% | 5.7% | 5.4% | 10.8% | 9% | 7.5% | 8% | 6.9% |
| Working capital | ||||||||
| Receivable days | 34 | 36 | 40 | 28 | 31 | 30 | 35 | 37 |
| Inventory days | 273 | 310 | 284 | 285 | 271 | 221 | 243 | 302 |
| Payable days | 252 | 6 | 277 | 246 | 225 | 190 | 219 | 219 |
| NWC days | 55 | 340 | 47 | 67 | 77 | 61 | 60 | 120 |
| Leverage | ||||||||
| Current ratio | 0.83 | 0.83 | 0.89 | 1.13 | 1.08 | 1.03 | 1.08 | 1.43 |
| Debt to EBITDA | 2.78 | 3.18 | 2.8 | 1.58 | 1.7 | 2.55 | 3.3 | 2.24 |
| Debt to equity | 1.17 | 1.07 | 0.87 | 0.68 | 0.65 | 0.8 | 0.95 | 0.52 |
| Interest coverage | 3 | 2.1 | 2.4 | 5.1 | 6.2 | 4.2 | 4.7 | 3.3 |
| Asset turnover | 0.79 | 0.68 | 0.65 | 0.84 | 0.88 | 0.79 | 0.68 | 0.64 |
| Return ratios | ||||||||
| Return on assets % | 5.1% | 3.9% | 3.5% | 9.1% | 7.9% | 5.9% | 5.4% | 4.4% |
| Return on capital employed % | 18.4% | 12.9% | 13.7% | 23.9% | 23% | 16.9% | 13.9% | 12.2% |
| Return on equity % | 15.5% | 11.6% | 9.1% | 19.4% | 17.4% | 13.8% | 13.8% | 8.8% |
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.