Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.4% | 47.1% | 47.8% | 41.7% | 42% | 47.3% | 42.3% | 41% |
| EBITDA margin % | 8.5% | 3.7% | 6.6% | 5% | 7.9% | 10.7% | 6.8% | 7.2% |
| EBIT margin % | 7.1% | 2.1% | 5% | 3.7% | 6.8% | 9.5% | 5.4% | 5.8% |
| PAT margin % | 6.6% | 1.2% | 7.4% | 4% | 5.6% | 9.6% | 8.7% | 5.2% |
| Working capital | ||||||||
| Receivable days | 110 | — | 111 | 94 | 95 | 95 | 72 | 77 |
| Inventory days | 54 | — | 75 | 61 | 49 | 50 | 51 | 49 |
| Payable days | — | — | 110 | 70 | 76 | 81 | 103 | 87 |
| NWC days | — | — | 76 | 84 | 68 | 64 | 20 | 39 |
| Leverage | ||||||||
| Current ratio | 3.08 | — | 3.17 | 3.59 | 2.72 | 3.07 | 2.23 | 2.37 |
| Debt to EBITDA | 0.26 | — | 0.1 | 0.09 | 0.21 | 0.14 | 0.19 | 0.23 |
| Debt to equity | 0.03 | — | 0.01 | 0 | 0.02 | 0.02 | 0.02 | 0.02 |
| Interest coverage | 32.3 | 11.1 | 68.9 | 30.8 | 33.4 | 51.7 | 29 | 46.5 |
| Asset turnover | 0.94 | — | 0.78 | 0.97 | 1.1 | 1.03 | 1 | 1.14 |
| Return ratios | ||||||||
| Return on assets % | 6.2% | — | 5.8% | 3.9% | 6.2% | 9.9% | 8.7% | 5.9% |
| Return on capital employed % | 9.7% | — | 9.8% | 7% | 11% | 17.7% | 7.1% | 10.6% |
| Return on equity % | 7.6% | — | 7% | 4.6% | 7.7% | 12.3% | 11.2% | 7.7% |
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.