Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 30.9% | 31.9% | 29.3% | 28.6% | 32.2% | 26.9% |
| EBITDA margin % | 12.8% | 17.6% | 14.8% | 13.4% | 14.2% | 11.8% |
| EBIT margin % | 10% | 14% | 11.7% | 9.7% | 9.8% | 8% |
| PAT margin % | 9.5% | 10.1% | 9.8% | 7.7% | 9.4% | 6.5% |
| Working capital | ||||||
| Receivable days | 30 | 16 | — | 17 | 15 | 18 |
| Inventory days | 345 | 274 | — | 163 | 329 | 233 |
| Payable days | — | — | — | 33 | 71 | 21 |
| NWC days | — | — | — | 147 | 273 | 230 |
| Leverage | ||||||
| Current ratio | 1.43 | 1.73 | — | 2.73 | 1.55 | 1.58 |
| Debt to EBITDA | 4.58 | 2.03 | — | 1.04 | 3.47 | 4.21 |
| Debt to equity | 0.79 | 0.45 | — | 0.17 | 0.49 | 0.55 |
| Interest coverage | 3.8 | 6.9 | 12 | 10.4 | 8.3 | 6 |
| Asset turnover | 0.59 | 0.72 | — | 0.86 | 0.56 | 0.66 |
| Return ratios | ||||||
| Return on assets % | 5.6% | 7.2% | — | 6.6% | 5.3% | 4.3% |
| Return on capital employed % | 16.1% | 18.5% | — | 11.9% | 12.1% | 10.1% |
| Return on equity % | 12.7% | 12.6% | — | 9.2% | 9.3% | 7.3% |
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.