Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 26.6% | 25.2% | 24.2% | 25.6% | 24.9% | 24.4% | 27.9% | 25.1% |
| EBIT margin % | 21.9% | 17.9% | 12.1% | 13.9% | 15.8% | 18.2% | 22.2% | 19.6% |
| PAT margin % | 9.5% | 4.3% | -4.9% | -2.2% | 6.5% | 8.2% | 13.4% | 12.7% |
| Working capital | ||||||||
| Receivable days | — | — | 99 | 61 | 49 | 37 | 45 | 38 |
| Inventory days | — | — | 1,457 | 1,017 | 1,034 | 763 | 884 | 975 |
| Payable days | — | — | 142 | 106 | 104 | 75 | 78 | 75 |
| NWC days | — | — | 1,414 | 973 | 980 | 725 | 851 | 938 |
| Leverage | ||||||||
| Current ratio | — | — | 1.04 | 1.12 | 1.11 | 1.16 | 1.21 | 1.24 |
| Debt to EBITDA | — | — | 10.45 | 6.31 | 5.3 | 4.47 | 3.73 | 4.28 |
| Debt to equity | — | — | 2.1 | 1.66 | 1.4 | 1.46 | 0.94 | 0.9 |
| Interest coverage | 2.5 | 1.5 | 0.9 | 1.1 | 1.5 | 2.2 | 2.8 | 3.2 |
| Asset turnover | — | — | 0.14 | 0.2 | 0.21 | 0.27 | 0.23 | 0.22 |
| Return ratios | ||||||||
| Return on assets % | — | — | -0.7% | -0.4% | 1.4% | 2.2% | 3.1% | 2.8% |
| Return on capital employed % | — | — | 4.4% | 6.8% | 8.7% | 12.9% | 14% | 11.1% |
| Return on equity % | — | — | -4.1% | -2.2% | 6.8% | 11% | 12.1% | 10.6% |
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.