Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 47.8% | 52% | 48.3% | ||||
| 42.2% |
| 42.4% |
| 41.4% |
| 41.9% |
| EBITDA margin % | 9% | 14.9% | 20.9% | 22.7% | 18.1% | 16.2% | 15.3% | 15.5% |
| EBIT margin % | 5% | 4% | 7.8% | 13.7% | 10.5% | 8% | 6.8% | 6.7% |
| PAT margin % | 2.8% | -1.3% | 3.1% | 8.7% | 7.2% | 5.7% | 4.4% | 4% |
| Working capital | ||||||||
| Receivable days | — | 61 | 57 | 48 | 45 | 46 | 50 | 55 |
| Inventory days | — | 6 | 7 | 6 | 5 | 6 | 6 | 6 |
| Payable days | — | 88 | 118 | 93 | 71 | 73 | 75 | 77 |
| NWC days | — | -22 | -53 | -39 | -22 | -20 | -19 | -17 |
| Leverage | ||||||||
| Current ratio | — | 0.76 | 0.84 | 0.85 | 1.03 | 0.91 | 1.19 | 1.1 |
| Debt to EBITDA | — | 0.86 | 0.87 | 0.2 | 0.27 | 0.3 | 0.23 | 0.21 |
| Debt to equity | — | 0.84 | 1.01 | 0.23 | 0.21 | 0.19 | 0.13 | 0.11 |
| Interest coverage | 4.1 | 1.2 | 2.5 | 7.3 | 8.6 | 6 | 5.2 | 5.3 |
| Asset turnover | — | 1.2 | 1.13 | 1.56 | 1.6 | 1.52 | 1.56 | 1.49 |
| Return ratios | ||||||||
| Return on assets % | — | -1.6% | 3.5% | 13.5% | 11.5% | 8.7% | 6.9% | 6% |
| Return on capital employed % | — | 8.4% | 16.7% | 40.2% | 31.4% | 23.1% | 19.9% | 19.1% |
| Return on equity % | — | -8.5% | 17.2% | 43.8% | 31.4% | 22% | 16.2% | 13.9% |
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.