Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 62.8% | 68.7% | 67.5% | 65.2% | 62.2% | 64.7% | 66.6% |
| EBITDA margin % | 10.3% | 7.8% | 7.7% | 7.9% | 9.7% | 9.6% | 10.2% |
| EBIT margin % | 7% | 4.1% | 5% | 5.6% | 7% | 7.4% | 8.5% |
| PAT margin % | 1.5% | 0.6% | 1.8% | 2.5% | 3.6% | 4.1% | 5.9% |
| Working capital | |||||||
| Receivable days | 75 | 71 | 60 | 77 | 57 | 64 | 47 |
| Inventory days | 99 | 144 | 118 | 119 | 86 | 73 | 82 |
| Payable days | 225 | 311 | 276 | 275 | 206 | 202 | 238 |
| NWC days | -51 | -96 | -99 | -78 | -63 | -64 | -110 |
| Leverage | |||||||
| Current ratio | 1.06 | 1.11 | 1.13 | 1.04 | 1.08 | 1.14 | 1.25 |
| Debt to EBITDA | 1.56 | 1.92 | 1.76 | 1.81 | 1.16 | 1.07 | 0.85 |
| Debt to equity | 0.44 | 0.38 | 0.46 | 0.59 | 0.58 | 0.51 | 0.36 |
| Interest coverage | 1.6 | 0.9 | 1.4 | 1.9 | 2.7 | 3.2 | 4.8 |
| Asset turnover | 0.91 | 0.85 | 1.05 | 1.01 | 1.3 | 1.4 | 1.42 |
| Return ratios | |||||||
| Return on assets % | 1.4% | 0.5% | 1.9% | 2.5% | 4.6% | 5.7% | 8.4% |
| Return on capital employed % | 17.6% | 10.5% | 16.1% | 22.7% | 36.8% | 39.2% | 44.8% |
| Return on equity % | 4.2% | 1.5% | 6.1% | 10.1% | 18.4% | 20.4% | 24.9% |
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.