Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 98.3% | — | — | — | — | — | — |
| EBITDA margin % | 21.2% | 18.6% | 22.4% | 22.1% | 22% | 21.8% | 20.6% | 20% |
| EBIT margin % | 15.3% | 9.3% | -14.9% | 19.3% | 19.6% | 19.5% | 18% | 17.2% |
| PAT margin % | 11.6% | 7% | -51.3% | 15% | 15.5% | 16.1% | 16.1% | 15% |
| Working capital | ||||||||
| Receivable days | 133 | 107 | 101 | 94 | 110 | 120 | 95 | 98 |
| Inventory days | 26 | 1,271 | 33 | 19 | 20 | 17 | 13 | 11 |
| Payable days | 125 | 3,713 | 68 | 68 | 85 | 77 | 65 | 40 |
| NWC days | 33 | -2,335 | 65 | 46 | 45 | 60 | 43 | 68 |
| Leverage | ||||||||
| Current ratio | 1.45 | 1.63 | 1.64 | 2.11 | 1.98 | 2.2 | 2.95 | 2.37 |
| Debt to EBITDA | 0.83 | 1.13 | 1.36 | 0.51 | 0.51 | 0.36 | 0.07 | 0.18 |
| Debt to equity | 0.18 | 0.18 | 0.34 | 0.14 | 0.15 | 0.07 | 0.01 | 0.03 |
| Interest coverage | 7.3 | 2.9 | -3.3 | 12.5 | 12.4 | 13.9 | 34.9 | 26.8 |
| Asset turnover | 0.57 | 0.47 | 0.61 | 0.78 | 0.78 | 0.63 | 0.6 | 0.6 |
| Return ratios | ||||||||
| Return on assets % | 6.6% | 3.2% | -31.2% | 11.7% | 12% | 10.2% | 9.7% | 9.1% |
| Return on capital employed % | 14.2% | 7.8% | -9.3% | 24% | 26.2% | 23.4% | 18.1% | 16.1% |
| Return on equity % | 12.2% | 5.8% | -57.1% | 19% | 20.5% | 15.4% | 12.5% | 12.2% |
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.