Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 77.1% | 74.1% | 74.4% | 67.1% | 63.3% | 70.3% | 75.1% |
| EBITDA margin % | 31.1% | 30.8% | 29.2% | 24.3% | 23% | 29.1% | 25% |
| EBIT margin % | 25.2% | 25.2% | 23.5% | 20.1% | 19.2% | 26.2% | 22.9% |
| PAT margin % | 3.2% | 5.5% | 13% | 4.6% | 5.3% | 17.3% | 34.3% |
| Working capital | |||||||
| Receivable days | — | 66 | 47 | 41 | 39 | 44 | 78 |
| Inventory days | — | 123 | 108 | 77 | 71 | 66 | 86 |
| Payable days | — | 206 | 206 | 145 | 160 | 121 | 180 |
| NWC days | — | -17 | -51 | -28 | -49 | -11 | -16 |
| Leverage | |||||||
| Current ratio | — | 0.89 | 1.39 | 1.09 | 0.92 | 1.13 | 2.17 |
| Debt to EBITDA | — | 4.37 | 2.09 | 0.97 | 2.42 | 1.32 | 0.8 |
| Debt to equity | — | 10.84 | 2.62 | 1.09 | 2.45 | 0.98 | 0.23 |
| Interest coverage | 1.3 | 1.4 | 1.6 | 1.6 | 1.6 | 2.2 | 2.1 |
| Asset turnover | — | 0.35 | 0.38 | 0.47 | 0.51 | 0.48 | 0.58 |
| Return ratios | |||||||
| Return on assets % | — | 1.9% | 5% | 2.2% | 2.7% | 8.3% | 19.7% |
| Return on capital employed % | — | 14.1% | 14.7% | 14.2% | 16.3% | 19.5% | 14.8% |
| Return on equity % | — | 44.2% | 55.9% | 21.3% | 23.5% | 44.3% | 39.2% |
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.