Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 65.6% | 67.8% | 68.9% | 66.8% | 67.2% | 66.8% | 65.9% | 66.4% |
| EBITDA margin % | 25.3% | 25.2% | 23.3% | 24.1% | 22.5% | 22.4% | 20.8% | 20.4% |
| EBIT margin % | 17.2% | 16.5% | 13.2% | 14.1% | 12.5% | 11.7% | 9.7% | 8.9% |
| PAT margin % | 18.2% | 13.7% | 11.9% | 9.4% | 5.8% | 8.8% | 9.4% | 2.2% |
| Working capital | ||||||||
| Receivable days | — | — | 63 | 92 | 117 | 154 | 131 | 129 |
| Inventory days | 139 | — | 308 | 309 | 423 | 368 | 346 | 390 |
| Payable days | — | — | 250 | 216 | 397 | 467 | 460 | 434 |
| NWC days | — | — | 121 | 184 | 143 | 55 | 18 | 85 |
| Leverage | ||||||||
| Current ratio | 1.94 | — | 1.81 | 2.19 | 1.45 | 0.99 | 1.14 | 1.22 |
| Debt to EBITDA | — | — | 2.15 | 2.49 | 7.08 | 4.77 | 5.61 | 4.29 |
| Debt to equity | — | — | 0.47 | 0.58 | 0.99 | 0.8 | 0.82 | 0.44 |
| Interest coverage | 15.4 | 18.7 | 20.7 | 20.2 | 4.2 | 2.7 | 3 | 1.9 |
| Asset turnover | 0.55 | — | 0.38 | 0.4 | 0.21 | 0.26 | 0.26 | 0.27 |
| Return ratios | ||||||||
| Return on assets % | 10% | — | 4.6% | 3.8% | 1.2% | 2.3% | 2.4% | 0.6% |
| Return on capital employed % | 13.9% | — | 8.3% | 8.9% | 5.9% | 6.2% | 6.3% | 3.9% |
| Return on equity % | 19.4% | — | 11.1% | 9.2% | 3.6% | 6.6% | 6.6% | 1.1% |
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.