Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 47.5% | 56.7% | 49.4% | 52.6% | 54.7% | 55.8% | 56.1% |
| EBITDA margin % | 20.6% | 25.4% | 19.5% | 10.7% | 22.7% | 18.2% | 16.2% |
| EBIT margin % | 19.2% | 23.3% | 17.3% | 7.8% | 20.7% | 16.1% | 13.6% |
| PAT margin % | 18.5% | 21.6% | 17.7% | 12.9% | 20.5% | 17.2% | 14.3% |
| Working capital | |||||||
| Receivable days | 31 | 46 | 50 | 52 | 34 | 17 | 31 |
| Inventory days | 64 | 130 | 67 | 122 | 216 | 323 | 379 |
| Payable days | 85 | 130 | 38 | 71 | 104 | 86 | 159 |
| NWC days | 9 | 45 | 79 | 103 | 145 | 255 | 250 |
| Leverage | |||||||
| Current ratio | 2.05 | 1.72 | 1.69 | 1.39 | 1.32 | 1.33 | 1.33 |
| Debt to EBITDA | 0.17 | 0.17 | 0.2 | 0.52 | 0.03 | 0.08 | 1.35 |
| Debt to equity | 0.03 | 0.03 | 0.03 | 0.03 | 0 | 0.01 | 0.19 |
| Interest coverage | 20.1 | 16.5 | 17.3 | 11.2 | 33.2 | 30.2 | 11.8 |
| Asset turnover | 0.53 | 0.37 | 0.38 | 0.24 | 0.32 | 0.36 | 0.35 |
| Return ratios | |||||||
| Return on assets % | 9.9% | 8.1% | 6.7% | 3% | 6.5% | 6.2% | 4.9% |
| Return on capital employed % | 21.2% | 19.2% | 17.1% | 8% | 21.2% | 20% | 17.2% |
| Return on equity % | 17% | 15.1% | 12.8% | 6.9% | 15.7% | 14.8% | 12.2% |
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.