Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 37.9% | 34.9% | 44.3% | 38.7% | ||||
| 30.1% |
| 36.6% |
| 35.4% |
| 41.7% |
| EBITDA margin % | 19.6% | 15% | 28.6% | 22% | 6.7% | 13.6% | 11.5% | 16.5% |
| EBIT margin % | 17.3% | 12.5% | 26.3% | 20.2% | 4.6% | 10.9% | 8.9% | 13.9% |
| PAT margin % | 11.9% | 11.1% | 21.3% | 22.6% | 5.7% | 11% | 19.3% | 14.6% |
| Working capital | ||||||||
| Receivable days | 9 | 9 | 16 | 26 | 25 | 39 | 33 | 32 |
| Inventory days | 118 | 161 | 174 | 130 | 80 | 97 | 107 | 156 |
| Payable days | — | — | 82 | 59 | 34 | 38 | 61 | 56 |
| NWC days | — | — | 107 | 97 | 70 | 97 | 80 | 133 |
| Leverage | ||||||||
| Current ratio | 2.04 | 1.77 | 2.12 | 2.54 | 2.55 | 2.9 | 3.56 | 3.54 |
| Debt to EBITDA | 0.15 | 0.63 | 0.21 | 0.27 | 1.8 | 0.65 | 0.46 | 0.64 |
| Debt to equity | 0.03 | 0.14 | 0.06 | 0.07 | 0.11 | 0.07 | 0.04 | 0.07 |
| Interest coverage | 46.8 | 33.9 | 135.2 | 72.6 | 11.9 | 17.8 | 20.8 | 38.1 |
| Asset turnover | 0.93 | 1.03 | 0.81 | 0.87 | 0.7 | 0.61 | 0.56 | 0.54 |
| Return ratios | ||||||||
| Return on assets % | 11% | 11.5% | 17.2% | 19.7% | 4% | 6.7% | 10.8% | 7.9% |
| Return on capital employed % | 21.5% | 16.1% | 35.4% | 27.3% | 7% | 11.7% | 10% | 12.2% |
| Return on equity % | 14.3% | 16.8% | 23.5% | 26.8% | 5.1% | 8.4% | 13.1% | 9.6% |
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.