Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 80.4% | 78.8% | 75.5% | 79.1% | 78.8% | 77.2% | 81.5% | 86.1% |
| EBITDA margin % | 26.8% | 25.6% | 14.4% | 15.5% | 13.8% | 11% | 17.3% | 19.3% |
| EBIT margin % | 15.1% | 11.7% | -1.8% | 1.1% | 2.1% | -0.9% | 6.5% | 7.7% |
| PAT margin % | 10.2% | 8.8% | -8.6% | 0.8% | -1.2% | -5.9% | 0.1% | 3.3% |
| Working capital | ||||||||
| Receivable days | 79 | 103 | 80 | 81 | 89 | 64 | 90 | 84 |
| Inventory days | 496 | 489 | 402 | 526 | 574 | 540 | 655 | 910 |
| Payable days | 176 | 1 | 132 | 158 | 157 | 149 | 168 | 189 |
| NWC days | 399 | 591 | 350 | 449 | 506 | 455 | 577 | 805 |
| Leverage | ||||||||
| Current ratio | 1.3 | 1.13 | 1.32 | 1.3 | 1.07 | 0.75 | 1.14 | 1.23 |
| Debt to EBITDA | 1.6 | 1.78 | 4.25 | 4.29 | 5.49 | 6.86 | 4.44 | 4.91 |
| Debt to equity | 0.16 | 0.16 | 0.2 | 0.26 | 0.31 | 0.35 | 0.36 | 0.42 |
| Interest coverage | 6.5 | 4.6 | 0.1 | 1.2 | 0.9 | 0 | 1.2 | 1.6 |
| Asset turnover | 0.28 | 0.25 | 0.23 | 0.25 | 0.26 | 0.27 | 0.27 | 0.25 |
| Return ratios | ||||||||
| Return on assets % | 2.9% | 2.2% | -2% | 0.2% | -0.3% | -1.6% | 0% | 0.8% |
| Return on capital employed % | 6% | 4.5% | 0.1% | 0.9% | 1.1% | 0.1% | 2.6% | 3.2% |
| Return on equity % | 3.9% | 3.2% | -2.9% | 0.3% | -0.5% | -2.7% | 0.1% | 1.5% |
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.