Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 39.8% | 35.5% | 30.2% | 30.1% | 34% | 34.2% | 34.8% |
| EBITDA margin % | — | 12.4% | 9.2% | 8.2% | 8.7% | 13% | 12.4% | 12.9% |
| EBIT margin % | — | 9% | 5.6% | 5.5% | 6.3% | 10.5% | 10% | 10.1% |
| PAT margin % | 7.7% | 10.1% | 7.5% | 6.6% | 7.2% | 11% | 10.3% | 10% |
| Working capital | ||||||||
| Receivable days | 1,544 | 65 | 69 | 56 | 57 | 67 | 69 | 72 |
| Inventory days | — | 57 | 59 | 51 | 46 | 46 | 42 | 35 |
| Payable days | — | 88 | 0 | 69 | 68 | 74 | 66 | 71 |
| NWC days | — | 35 | 128 | 38 | 34 | 38 | 46 | 35 |
| Leverage | ||||||||
| Current ratio | 2.21 | 2.34 | 2.24 | 2.31 | 2.09 | 2.08 | 2.27 | 2.13 |
| Debt to EBITDA | — | 0.5 | 0.73 | 0.56 | 0.44 | 0.25 | 0.24 | 0.21 |
| Debt to equity | 0.01 | 0.06 | 0.07 | 0.06 | 0.05 | 0.04 | 0.04 | 0.04 |
| Interest coverage | — | 12.7 | 11.3 | 11.1 | 10.2 | 13.4 | 11.4 | 9.6 |
| Asset turnover | 0.03 | 0.66 | 0.64 | 0.84 | 0.87 | 0.81 | 0.83 | 0.81 |
| Return ratios | ||||||||
| Return on assets % | 0.2% | 6.6% | 4.8% | 5.5% | 6.3% | 9% | 8.5% | 8.1% |
| Return on capital employed % | -0% | 10.9% | 7.3% | 8% | 9.3% | 14.2% | 13.4% | 13.1% |
| Return on equity % | 0.3% | 10% | 7.5% | 8.5% | 10% | 14.1% | 13.2% | 13.1% |
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.