Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 77.2% | 73% | 64.4% | 61.6% | 56.1% | 61.2% | 68.6% |
| EBITDA margin % | 36.8% | 22.3% | 21.6% | 15.4% | 5% | 8.2% | 23.4% |
| EBIT margin % | 33.9% | 17.1% | 16.3% | 9% | -3% | 0.8% | 18.2% |
| PAT margin % | 29% | 20.3% | 11.3% | 3.8% | -15.2% | -7.2% | 16.3% |
| Working capital | |||||||
| Receivable days | 59 | — | 66 | 80 | 43 | 76 | 74 |
| Inventory days | 347 | — | 441 | 380 | 309 | 245 | 306 |
| Payable days | 169 | — | 169 | 154 | 109 | 182 | 192 |
| NWC days | 237 | — | 338 | 306 | 244 | 139 | 188 |
| Leverage | |||||||
| Current ratio | 1.9 | — | 1.48 | 1.52 | 1.21 | 1.4 | 1.58 |
| Debt to EBITDA | 1.31 | — | 2.81 | 3.84 | 12.32 | 4.81 | 1 |
| Debt to equity | 0.78 | — | 0.64 | 0.63 | 0.69 | 0.46 | 0.3 |
| Interest coverage | 7.2 | 3.3 | 3.9 | 2.6 | -0.1 | 0.9 | 6.9 |
| Asset turnover | 0.73 | — | 0.55 | 0.56 | 0.55 | 0.61 | 0.76 |
| Return ratios | |||||||
| Return on assets % | 21.3% | — | 6.2% | 2.1% | -8.3% | -4.4% | 12.4% |
| Return on capital employed % | 37.8% | — | 14.6% | 9% | -0.4% | 3.6% | 25.1% |
| Return on equity % | 46.9% | — | 11.8% | 4% | -16.8% | -8.3% | 21.1% |
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.