Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 48% | 49.1% | 45.7% | 35.8% | 34.8% | 35.2% | 38.3% |
| EBITDA margin % | 26.4% | 26.1% | 27.4% | 23.3% | 15.1% | 13.9% | 15.8% | 18.6% |
| EBIT margin % | 19.2% | 19% | 19.9% | 16.2% | 8.9% | 5.9% | 8.7% | 11.9% |
| PAT margin % | 11.2% | 11.9% | 11.7% | 11.2% | 9.8% | 9.5% | 8.4% | 8.7% |
| Working capital | ||||||||
| Receivable days | — | — | 73 | 61 | 56 | 54 | 52 | 47 |
| Inventory days | — | — | 37 | 35 | 35 | 32 | 24 | 22 |
| Payable days | — | — | 57 | 56 | 43 | 47 | 53 | 59 |
| NWC days | — | — | 52 | 40 | 48 | 39 | 24 | 11 |
| Leverage | ||||||||
| Current ratio | — | — | 0.99 | 1.04 | 0.88 | 0.97 | 0.98 | 0.92 |
| Debt to EBITDA | — | — | 4.41 | 5.05 | 6.64 | 6.76 | 6.69 | 6.18 |
| Debt to equity | — | — | 1.42 | 1.42 | 1.31 | 1.25 | 1.5 | 1.7 |
| Interest coverage | 1.7 | 2.2 | 2.4 | 2.7 | 2.6 | 2.4 | 2.3 | 2.6 |
| Asset turnover | — | — | 0.32 | 0.33 | 0.38 | 0.41 | 0.41 | 0.4 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.8% | 3.7% | 3.7% | 3.9% | 3.5% | 3.5% |
| Return on capital employed % | — | — | 9.9% | 10% | 9.4% | 9.6% | 9.9% | 10.2% |
| Return on equity % | — | — | 13.8% | 13.5% | 12.8% | 12.6% | 11.9% | 12.9% |
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.