Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 65.7% | 57.6% | 51% | 54.5% | 56.1% | 57.1% | 56.3% | 55.3% |
| EBITDA margin % | 16.3% | 27.2% | 9.5% | 17.5% | 23% | 22.6% | 21.1% | 20.1% |
| EBIT margin % | 14.1% | 17.5% | -6% | 7.4% | 14.5% | 12.8% | 10.5% | 8.1% |
| PAT margin % | 11.2% | 10.8% | -5.2% | 4.3% | 9.4% | 7.6% | 9.5% | 3.8% |
| Working capital | ||||||||
| Receivable days | 8 | 8 | 17 | 11 | 9 | 8 | 12 | 19 |
| Inventory days | 304 | 246 | 265 | 292 | 218 | 227 | 195 | 164 |
| Payable days | — | — | 192 | 153 | 99 | 73 | 84 | 77 |
| NWC days | — | — | 90 | 150 | 128 | 162 | 123 | 107 |
| Leverage | ||||||||
| Current ratio | 2.92 | 2.5 | 2.61 | 2.45 | 1.96 | 2.08 | 1.84 | 1.72 |
| Debt to EBITDA | — | — | — | — | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | — | — | 0 | 0 | 0 | 0 |
| Interest coverage | 135.6 | 5.1 | -0.1 | 2.5 | 5 | 4.3 | 3.4 | 2.7 |
| Asset turnover | 1.18 | 0.82 | 0.51 | 0.68 | 1.05 | 1.04 | 0.91 | 0.93 |
| Return ratios | ||||||||
| Return on assets % | 13.3% | 8.8% | -2.7% | 2.9% | 9.9% | 7.8% | 8.6% | 3.6% |
| Return on capital employed % | 26.1% | 25.3% | -0.3% | 8.7% | 20.9% | 20.1% | 15.7% | 12.8% |
| Return on equity % | 18.9% | 17.4% | -5.1% | 5.7% | 22.5% | 17.2% | 21% | 8.4% |
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.