Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 26.1% | 28.2% | 28.7% | 26.9% | 30% | ||
| 28.8% |
| 26.5% |
| EBITDA margin % | 14.4% | 14.8% | 14.4% | 11% | 14.1% | 13% | 11.8% |
| EBIT margin % | 12.2% | 12.5% | 12.1% | 8.2% | 11.1% | 9.8% | 9% |
| PAT margin % | 11% | 10% | 9.6% | 6.1% | 9.6% | 8.1% | 6% |
| Working capital | |||||||
| Receivable days | — | 19 | 10 | 10 | 8 | 10 | 10 |
| Inventory days | — | 251 | 232 | 248 | 267 | 295 | 248 |
| Payable days | — | 63 | 33 | 38 | 26 | 26 | 22 |
| NWC days | — | 207 | 210 | 220 | 250 | 279 | 236 |
| Leverage | |||||||
| Current ratio | — | 1.63 | 1.6 | 1.31 | 1.43 | 1.29 | 1.13 |
| Debt to EBITDA | — | 1.74 | 1.73 | 3.67 | 2.55 | 3.73 | 4.28 |
| Debt to equity | — | 0.47 | 0.44 | 0.65 | 0.59 | 0.69 | 0.77 |
| Interest coverage | 9.7 | 16 | 20 | 9.2 | 9.6 | 6.6 | 7.8 |
| Asset turnover | — | 1.04 | 1.08 | 0.86 | 0.92 | 0.76 | 0.75 |
| Return ratios | |||||||
| Return on assets % | — | 10.4% | 10.3% | 5.2% | 8.8% | 6.1% | 4.5% |
| Return on capital employed % | — | 21.4% | 20.8% | 13.8% | 21.5% | 14.5% | 12% |
| Return on equity % | — | 18.3% | 16.8% | 9.8% | 15.7% | 11.5% | 9.1% |
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.