Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 49.9% | 51.2% | 50.4% | 47.5% | 47.6% | ||
| 46.2% |
| 48.6% |
| EBITDA margin % | 12.1% | 15.8% | 17.5% | 15.3% | 13.4% | 10.8% | 12.1% |
| EBIT margin % | 8.8% | 12.5% | 15.1% | 13.2% | 11% | 7.7% | 8.7% |
| PAT margin % | 5.4% | 9% | 10.4% | 10.5% | 8.4% | 4.1% | 5% |
| Working capital | |||||||
| Receivable days | — | 52 | 42 | 39 | 39 | 40 | 42 |
| Inventory days | — | 129 | 128 | 101 | 116 | 148 | 143 |
| Payable days | — | 73 | 61 | 52 | 51 | 54 | 53 |
| NWC days | — | 108 | 109 | 87 | 104 | 135 | 131 |
| Leverage | |||||||
| Current ratio | — | 1.91 | 1.93 | 1.71 | 1.18 | 1.07 | 1.05 |
| Debt to EBITDA | — | 0.42 | 0.41 | 0.56 | 1.38 | 3.03 | 2.51 |
| Debt to equity | — | 0.11 | 0.14 | 0.16 | 0.32 | 0.62 | 0.62 |
| Interest coverage | 5.6 | 22.2 | 42 | 31.1 | 15.2 | 5.2 | 4.2 |
| Asset turnover | — | 1.18 | 1.36 | 1.34 | 1.09 | 0.99 | 1.06 |
| Return ratios | |||||||
| Return on assets % | — | 10.6% | 14% | 14.1% | 9.2% | 4.1% | 5.3% |
| Return on capital employed % | — | 21.6% | 32.9% | 29.7% | 21.2% | 13.2% | 15.4% |
| Return on equity % | — | 15.1% | 20.1% | 20.1% | 14.7% | 7.9% | 10.3% |
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.