Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 57% | 59.4% | 58.4% | 62.8% | 63.7% | 63.1% | 66.4% |
| EBITDA margin % | — | 16.8% | 15.5% | 16% | 19.5% | 17.2% | 16.2% | 16.3% |
| EBIT margin % | — | 9.3% | 5.3% | 8.6% | 12% | 11.9% | 12.1% | 12.5% |
| PAT margin % | 5.4% | 6% | 0.2% | 3.3% | 5.3% | 6.2% | 8.7% | 7.4% |
| Working capital | ||||||||
| Receivable days | 108 | 92 | 119 | 108 | 71 | 104 | 168 | 151 |
| Inventory days | — | 58 | 103 | 73 | 54 | 58 | 46 | 53 |
| Payable days | — | 8 | 432 | 348 | 346 | 425 | 377 | 377 |
| NWC days | — | 142 | -211 | -166 | -222 | -264 | -163 | -173 |
| Leverage | ||||||||
| Current ratio | 1.37 | 1.48 | 1.37 | 1.44 | 1.44 | 1.75 | 1.81 | 1.65 |
| Debt to EBITDA | — | 1.08 | 2.14 | 1.57 | 1.04 | 0.98 | 1.1 | 1.1 |
| Debt to equity | 0.28 | 0.3 | 0.31 | 0.34 | 0.34 | 0.21 | 0.24 | 0.25 |
| Interest coverage | -1.1 | 2.6 | 1.1 | 1.9 | 2.5 | 2.7 | 3.7 | 3.6 |
| Asset turnover | 0.88 | 0.65 | 0.39 | 0.56 | 0.69 | 0.61 | 0.67 | 0.67 |
| Return ratios | ||||||||
| Return on assets % | 4.7% | 3.8% | 0.1% | 1.8% | 3.6% | 3.8% | 5.8% | 4.9% |
| Return on capital employed % | -5.3% | 13.6% | 5.5% | 9.4% | 16.1% | 16.3% | 17.8% | 16.2% |
| Return on equity % | 11.5% | 9.8% | 0.2% | 4.5% | 8.9% | 7.9% | 11.9% | 10.1% |
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.