Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 85.6% | 86.7% | 85.5% | 85.9% | 87.4% | 83.6% | 85% | 84.6% |
| EBITDA margin % | 14.5% | 19.3% | 19.7% | 14.9% | 8.9% | 14.9% | 13.2% | 15.1% |
| EBIT margin % | 9.3% | 14.2% | 14.2% | 9.6% | 3% | 8.9% | 7% | 9.6% |
| PAT margin % | 3.9% | 7.3% | 9.3% | 5.3% | 0.5% | 4.4% | 3.2% | 5.8% |
| Working capital | ||||||||
| Receivable days | 15 | 13 | 15 | 15 | 14 | 16 | 13 | 12 |
| Inventory days | 303 | 313 | 300 | 284 | 354 | 223 | 255 | 272 |
| Payable days | 3 | — | 218 | 264 | 307 | 200 | 230 | 221 |
| NWC days | 315 | — | 97 | 35 | 61 | 38 | 38 | 63 |
| Leverage | ||||||||
| Current ratio | — | — | 1.32 | 1.34 | 1.29 | 1.18 | 1.09 | 1.26 |
| Debt to EBITDA | 3.85 | 2.81 | 3.03 | 3.79 | 5.63 | 2.62 | 2.76 | 2.25 |
| Debt to equity | 0.8 | 0.77 | 0.74 | 0.7 | 0.73 | 0.56 | 0.48 | 0.44 |
| Interest coverage | 1.9 | 2.8 | 3.6 | 3.3 | 1.1 | 2.5 | 2.3 | 3.9 |
| Asset turnover | 0.58 | 0.57 | 0.53 | 0.54 | 0.62 | 0.67 | 0.64 | 0.67 |
| Return ratios | ||||||||
| Return on assets % | 2.3% | 4.1% | 4.9% | 2.9% | 0.3% | 2.9% | 2.1% | 3.8% |
| Return on capital employed % | — | 9.2% | 9.5% | 7.2% | 3.2% | 8% | 6.3% | 8.8% |
| Return on equity % | 5.6% | 10.3% | 11.5% | 6.6% | 0.7% | 6.3% | 4.2% | 7.6% |
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.