Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.9% | 43.9% | 48.1% | 39.5% | 32.9% | 31.8% | 30.1% | 29.7% |
| EBITDA margin % | 15.3% | 24.3% | 28.6% | 23.6% | 16.2% | 14.6% | 13.2% | 12.4% |
| EBIT margin % | 12.4% | 20.9% | 25.1% | 21% | 14.1% | 12.5% | 10.8% | 9.6% |
| PAT margin % | 6.4% | 14.5% | 17.8% | 15.7% | 10.7% | 10.6% | 8.4% | 7% |
| Working capital | ||||||||
| Receivable days | 78 | — | 63 | 61 | 60 | 62 | 56 | 70 |
| Inventory days | 94 | — | 62 | 52 | 61 | 53 | 58 | 57 |
| Payable days | — | — | 70 | 45 | 45 | 41 | 33 | 35 |
| NWC days | — | — | 55 | 67 | 76 | 74 | 82 | 91 |
| Leverage | ||||||||
| Current ratio | 1.31 | — | 2.62 | 3.06 | 3.45 | 3.62 | 3.57 | 2.4 |
| Debt to EBITDA | 2.72 | — | 0.46 | 0.19 | 0.04 | 0.19 | 1.07 | 1.56 |
| Debt to equity | 1.05 | — | 0.25 | 0.09 | 0.01 | 0.05 | 0.22 | 0.26 |
| Interest coverage | 4.2 | 8 | 15 | 43.1 | 47.2 | 87.4 | 35.6 | 17.7 |
| Asset turnover | 0.92 | — | 1.22 | 1.54 | 1.55 | 1.26 | 1.07 | 0.91 |
| Return ratios | ||||||||
| Return on assets % | 5.9% | — | 21.8% | 24.1% | 16.6% | 13.3% | 9% | 6.3% |
| Return on capital employed % | 17.2% | — | 37.1% | 43.9% | 29.2% | 21.4% | 16.2% | 11.5% |
| Return on equity % | 16.2% | — | 33.1% | 32% | 20.8% | 16.9% | 12.9% | 9.4% |
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.