Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48.2% | 44.7% | 48.1% | 47.5% | 42.7% | 47% | 45.4% | 49.4% |
| EBITDA margin % | 14.1% | 11.6% | 18.2% | 23.1% | 12.6% | 13.1% | 11.7% | 13.8% |
| EBIT margin % | 9.8% | 5.9% | 14.5% | 21% | 9.5% | 9.9% | 8.9% | 10.4% |
| PAT margin % | 8.3% | 0.3% | 9.5% | 15.6% | 6% | 8% | 6.5% | 10% |
| Working capital | ||||||||
| Receivable days | 63 | — | 63 | 49 | 53 | 52 | 61 | 55 |
| Inventory days | 308 | — | 221 | 171 | 277 | 271 | 214 | 258 |
| Payable days | 54 | — | 53 | 40 | 28 | 31 | 32 | 26 |
| NWC days | 317 | — | 231 | 179 | 301 | 291 | 243 | 288 |
| Leverage | ||||||||
| Current ratio | 1.29 | — | 1.87 | 2.44 | 2.72 | 3.32 | 2.84 | 3.7 |
| Debt to EBITDA | 2.73 | — | 1.18 | 0.29 | 0.59 | 0.26 | 0.82 | 0.98 |
| Debt to equity | 0.52 | — | 0.32 | 0.13 | 0.1 | 0.04 | 0.12 | 0.14 |
| Interest coverage | 2.1 | 1.4 | 5.4 | 34.8 | 11.4 | 16.8 | 10.7 | 12 |
| Asset turnover | 0.68 | — | 0.91 | 1.32 | 0.93 | 0.87 | 0.93 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | 5.7% | — | 8.6% | 20.5% | 5.5% | 6.9% | 6.1% | 7.7% |
| Return on capital employed % | 11.5% | — | 19.6% | 44.4% | 12.7% | 11.6% | 11.9% | 12.1% |
| Return on equity % | 11.3% | — | 14.3% | 29.4% | 7.6% | 8.9% | 8.1% | 10.5% |
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.