Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 43.2% | 30.4% | 29.7% | 36.4% | 39.9% | 45.1% | 50.9% |
| EBITDA margin % | 17.7% | 12% | 11.9% | 18.1% | 21.1% | 25.6% | 28.7% |
| EBIT margin % | 12.1% | 8.4% | 9% | 15.2% | 18.3% | 22.3% | 24.9% |
| PAT margin % | 9.4% | 4.5% | 5.1% | 8.6% | 13.3% | 14.6% | 16.6% |
| Working capital | |||||||
| Receivable days | — | — | 100 | 127 | 203 | 273 | 216 |
| Inventory days | — | — | 290 | 295 | 344 | 389 | 394 |
| Payable days | — | — | 38 | 32 | 56 | 48 | 73 |
| NWC days | — | — | 352 | 390 | 491 | 614 | 537 |
| Leverage | |||||||
| Current ratio | — | — | 2.3 | 2.53 | 2.85 | 2.42 | 3.13 |
| Debt to EBITDA | — | — | 0.79 | 1.26 | 1.24 | 1.57 | 0.86 |
| Debt to equity | — | — | 0.12 | 0.29 | 0.25 | 0.39 | 0.22 |
| Interest coverage | 8.1 | 2.8 | 3.5 | 4.2 | 5.7 | 4.4 | 5.6 |
| Asset turnover | — | — | 0.77 | 0.77 | 0.62 | 0.57 | 0.58 |
| Return ratios | |||||||
| Return on assets % | — | — | 3.9% | 6.6% | 8.2% | 8.3% | 9.7% |
| Return on capital employed % | — | — | 11.6% | 19.1% | 20.3% | 22.4% | 23.1% |
| Return on equity % | — | — | 6.5% | 10.9% | 12.5% | 14% | 14.7% |
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.