Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 12.6% | 12.3% | 10.5% | 8.6% | 9.6% | 9.3% | 7.8% | 7.4% |
| EBITDA margin % | 4.5% | 5.1% | 4.4% | 3.5% | 4.2% | 3.9% | 3.9% | 3.8% |
| EBIT margin % | 3.8% | 4.2% | 3.8% | 2.8% | 3.3% | 3% | 3.2% | 3% |
| PAT margin % | 2.1% | 2.7% | 2.5% | 1.8% | 2.1% | 2.1% | 3.2% | 3.4% |
| Working capital | ||||||||
| Receivable days | 63 | 43 | 62 | 46 | 51 | 48 | 65 | 49 |
| Inventory days | 57 | 47 | 47 | 43 | 32 | 39 | 41 | 31 |
| Payable days | 103 | 89 | 108 | 86 | 81 | 92 | 111 | 86 |
| NWC days | 17 | 1 | 1 | 3 | 2 | -6 | -5 | -7 |
| Leverage | ||||||||
| Current ratio | 1.15 | 1.21 | 1.17 | 1.15 | 1.07 | 1.02 | 1.04 | 1.06 |
| Debt to EBITDA | 1.01 | 0.37 | 0.54 | 1.21 | 0.36 | 0.22 | 0.13 | 0.25 |
| Debt to equity | 0.36 | 0.15 | 0.21 | 0.46 | 0.14 | 0.09 | 0.07 | 0.1 |
| Interest coverage | 4.7 | 5.5 | 8.9 | 6.8 | 6.7 | 7.5 | 8.1 | 15.9 |
| Asset turnover | 2 | 2.59 | 2.27 | 2.5 | 2.61 | 2.53 | 2.32 | 2.55 |
| Return ratios | ||||||||
| Return on assets % | 4.2% | 7.1% | 5.6% | 4.4% | 5.5% | 5.4% | 7.4% | 8.6% |
| Return on capital employed % | 26.6% | 31.3% | 29.8% | 23.8% | 24.6% | 27.9% | 38.8% | 41.1% |
| Return on equity % | 16.8% | 22.3% | 21.7% | 19.1% | 19.9% | 22.1% | 40.9% | 35.2% |
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.