Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 87.5% | 84.9% | 86.5% | 90.5% | 90.9% | 91% | 90.6% |
| EBITDA margin % | 18.2% | -58.7% | -0.1% | 29.6% | 36.9% | 37.1% | 34.8% |
| EBIT margin % | 9% | -85.4% | -12.7% | 23.3% | 31.7% | 32.2% | 30% |
| PAT margin % | 10.4% | -75.5% | -9.7% | 16.3% | 27% | 28.1% | 22.4% |
| Working capital | |||||||
| Receivable days | 47 | 57 | 43 | 41 | 29 | 32 | 32 |
| Inventory days | 112 | 250 | 134 | 121 | 99 | 88 | 84 |
| Payable days | 3 | 870 | 453 | 577 | 421 | 410 | 411 |
| NWC days | 156 | -564 | -277 | -416 | -294 | -290 | -295 |
| Leverage | |||||||
| Current ratio | 1.04 | 1.12 | 1.12 | 1.73 | 2.09 | 2.57 | 2.69 |
| Debt to EBITDA | 1.45 | — | — | 0.1 | 0 | 0 | 0 |
| Debt to equity | 0.13 | 0.11 | 0.11 | 0.02 | 0 | 0 | 0 |
| Interest coverage | 4 | -8 | -1.9 | 15.4 | 46.9 | 47.7 | 45.4 |
| Asset turnover | 0.36 | 0.12 | 0.24 | 0.46 | 0.5 | 0.47 | 0.45 |
| Return ratios | |||||||
| Return on assets % | 3.7% | -9.1% | -2.3% | 7.5% | 13.4% | 13.2% | 10% |
| Return on capital employed % | 5.8% | -9.7% | -1.8% | 14.6% | 21.6% | 20.8% | 18.6% |
| Return on equity % | 5.3% | -12.1% | -3.1% | 9.8% | 17.2% | 16.7% | 12.5% |
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.