Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 27.8% | 29% | 28.7% | 25.1% | 20.8% | 23% | 23.2% | 23.2% |
| EBITDA margin % | 9.7% | 11.7% | 11.5% | 10.3% | 9.1% | 8.9% | 8.5% | 9% |
| EBIT margin % | 8% | 9.8% | 9.8% | 8.8% | 8% | 7.5% | 6.9% | 7% |
| PAT margin % | 2.6% | 5.2% | 5.4% | 6.7% | 5.2% | 5.5% | 5.6% | 3.6% |
| Working capital | ||||||||
| Receivable days | — | 45 | 17 | 9 | 8 | 23 | 20 | 22 |
| Inventory days | — | 131 | 112 | 111 | 81 | 112 | 101 | 107 |
| Payable days | — | 0 | 109 | 104 | 84 | 122 | 113 | 54 |
| NWC days | — | 175 | 20 | 16 | 5 | 12 | 8 | 75 |
| Leverage | ||||||||
| Current ratio | — | 1.22 | 1.53 | 1.52 | 1.49 | 1.63 | 1.57 | 1.42 |
| Debt to EBITDA | — | 1.88 | 0.37 | 0.34 | 0.37 | 0.48 | 0.79 | 0.83 |
| Debt to equity | — | 1.07 | 0.17 | 0.15 | 0.2 | 0.18 | 0.27 | 0.33 |
| Interest coverage | 3 | 3.9 | 8 | 15.1 | 9.6 | 8.5 | 6.8 | 6.7 |
| Asset turnover | — | 1.14 | 1.4 | 1.48 | 1.88 | 1.37 | 1.3 | 1.32 |
| Return ratios | ||||||||
| Return on assets % | — | 5.9% | 7.5% | 9.9% | 9.7% | 7.5% | 7.3% | 4.7% |
| Return on capital employed % | — | 26.4% | 27% | 28.1% | 29.8% | 22.2% | 19.4% | 20.2% |
| Return on equity % | — | 25.3% | 21.8% | 29.5% | 30% | 22.9% | 22.3% | 15.7% |
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.