Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 81.2% | 82% | 83.1% | 87% | 85.4% | 81.6% | 83.3% | 84.2% |
| EBITDA margin % | 20% | 21.5% | 26.5% | 21.5% | 17.1% | 18% | 17.2% | 20.8% |
| EBIT margin % | 6.3% | 5.7% | 14.5% | 10.6% | 7.5% | 7.8% | 7.7% | 11.7% |
| PAT margin % | 3.7% | 2.5% | 11.8% | 10.4% | 8% | 5.8% | 5% | 7.8% |
| Working capital | ||||||||
| Receivable days | 21 | 25 | 18 | 22 | 19 | 21 | 23 | 21 |
| Inventory days | 211 | 204 | 156 | 234 | 242 | 164 | 217 | 186 |
| Payable days | 1 | 173 | 184 | 211 | 209 | 178 | 241 | 202 |
| NWC days | 231 | 55 | -11 | 45 | 52 | 8 | -1 | 5 |
| Leverage | ||||||||
| Current ratio | 1.29 | 1.17 | 1.23 | 1.54 | 1.45 | 1.75 | 1.59 | 1.54 |
| Debt to EBITDA | 2.6 | 2.28 | 1.33 | 1.28 | 1.62 | 1.75 | 2.18 | 2.19 |
| Debt to equity | 0.46 | 0.45 | 0.29 | 0.2 | 0.24 | 0.28 | 0.3 | 0.38 |
| Interest coverage | 1.7 | 1.9 | 5.6 | 6.7 | 4.9 | 3.8 | 3.3 | 4.1 |
| Asset turnover | 0.46 | 0.46 | 0.48 | 0.45 | 0.53 | 0.53 | 0.46 | 0.44 |
| Return ratios | ||||||||
| Return on assets % | 1.7% | 1.1% | 5.6% | 4.7% | 4.2% | 3.1% | 2.3% | 3.5% |
| Return on capital employed % | 5.2% | 4.8% | 10.4% | 7.2% | 5.6% | 6.6% | 5.5% | 7.4% |
| Return on equity % | 3.3% | 2.3% | 9.7% | 7.5% | 6.9% | 5.2% | 4% | 6.4% |
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.