Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 54.3% | 53.5% | 56.6% | 56.6% | 54.5% | 50.4% | 47.1% |
| EBITDA margin % | 11.1% | 14.7% | 15.8% | 16.9% | 15.3% | 11.7% | 8.9% |
| EBIT margin % | 8.5% | 12% | 13.8% | 14.3% | 11.7% | 8% | 5.6% |
| PAT margin % | 6% | 7.7% | 10.1% | 10.4% | 8.3% | 5.9% | 3.6% |
| Working capital | |||||||
| Receivable days | 53 | 78 | 59 | 63 | 49 | 48 | 45 |
| Inventory days | 161 | 169 | 192 | 121 | 189 | 211 | 141 |
| Payable days | 18 | 32 | 36 | 24 | 26 | 43 | 25 |
| NWC days | 196 | 215 | 215 | 160 | 211 | 216 | 161 |
| Leverage | |||||||
| Current ratio | 1.94 | 1.73 | 1.57 | 1.64 | 1.65 | 1.42 | 1.26 |
| Debt to EBITDA | 1.63 | 1.92 | 1.98 | 1.7 | 1.81 | 2.24 | 3.27 |
| Debt to equity | 0.27 | 0.41 | 0.57 | 0.48 | 0.41 | 0.43 | 0.6 |
| Interest coverage | 3.5 | 7.2 | 15.3 | 10.9 | 6.6 | 4.6 | 3.2 |
| Asset turnover | 1.06 | 0.91 | 1.03 | 1.02 | 0.95 | 1.01 | 1.13 |
| Return ratios | |||||||
| Return on assets % | 6.4% | 7% | 10.5% | 10.7% | 7.9% | 5.9% | 4.1% |
| Return on capital employed % | 13.9% | 18.2% | 28.9% | 26.6% | 19.6% | 16.1% | 13.1% |
| Return on equity % | 9% | 11% | 18.4% | 17.4% | 12.2% | 9.7% | 7.4% |
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.