Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.8% | 58.5% | 53.5% | 52.5% | 53.3% | 55.5% | 53.8% | 52.4% |
| EBITDA margin % | 11.3% | 12.9% | 17.8% | 20.5% | 22.2% | 24.5% | 24.4% | 22.1% |
| EBIT margin % | 7.4% | 8% | 12.8% | 16.4% | 18.9% | 21.9% | 21.6% | 17.7% |
| PAT margin % | 5.7% | 8.2% | 5.5% | 11.7% | 15.5% | 18.4% | 18.6% | 14.4% |
| Working capital | ||||||||
| Receivable days | 177 | 205 | 177 | 126 | 83 | 84 | 101 | 111 |
| Inventory days | 206 | 248 | 188 | 167 | 142 | 97 | 86 | 98 |
| Payable days | 259 | 420 | 319 | 173 | 109 | 82 | 99 | 94 |
| NWC days | 124 | 33 | 46 | 120 | 116 | 99 | 87 | 115 |
| Leverage | ||||||||
| Current ratio | 1.24 | 1.22 | 1.35 | 1.64 | 2.52 | 3.05 | 3.16 | 2.94 |
| Debt to EBITDA | 3.81 | 2.86 | 1.54 | 0.41 | 0 | 0 | 0.01 | 0 |
| Debt to equity | 0.68 | 0.47 | 0.31 | 0.1 | 0 | 0 | 0 | 0 |
| Interest coverage | 2.2 | 1.2 | 2.3 | 5.5 | 23.3 | 54.1 | 41.6 | 20.1 |
| Asset turnover | 0.56 | 0.51 | 0.52 | 0.7 | 0.88 | 0.91 | 0.82 | 0.73 |
| Return ratios | ||||||||
| Return on assets % | 3.2% | 4.2% | 2.9% | 8.2% | 13.7% | 16.7% | 15.2% | 10.5% |
| Return on capital employed % | 14.5% | 8.4% | 12.2% | 17.7% | 24.2% | 30.1% | 27.7% | 21% |
| Return on equity % | 9.1% | 10.5% | 6.3% | 13.4% | 18.6% | 22.2% | 20.8% | 14.8% |
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.