Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 79.2% | 79.2% | 75.8% | 76.3% | 76.9% | 76.5% | 76.5% | 77.1% |
| EBITDA margin % | 5% | 13.2% | 10% | 18.7% | 17.5% | 18.4% | 20.4% | 22.8% |
| EBIT margin % | -0.2% | 6.9% | 2.8% | 13.4% | 12.5% | 13.4% | 15.4% | 17.9% |
| PAT margin % | -5% | 2% | -1.4% | 13.8% | 10.1% | 9.4% | 10.4% | 11.7% |
| Working capital | ||||||||
| Receivable days | — | — | 41 | 33 | 34 | 33 | 37 | 42 |
| Inventory days | — | — | 29 | 33 | 31 | 24 | 23 | 24 |
| Payable days | — | — | 205 | 178 | 179 | 164 | 161 | 165 |
| NWC days | — | — | -135 | -112 | -115 | -107 | -101 | -99 |
| Leverage | ||||||||
| Current ratio | — | — | 0.84 | 0.89 | 1.39 | 0.69 | 1.35 | 0.86 |
| Debt to EBITDA | — | — | 3.14 | 0.9 | 0.84 | 0.68 | 1.56 | 1.38 |
| Debt to equity | — | — | 0.21 | 0.16 | 0.13 | 0.11 | 0.28 | 0.29 |
| Interest coverage | 0.3 | 1.8 | 1 | 5.4 | 6.6 | 7.4 | 6.9 | 5.4 |
| Asset turnover | — | — | 0.36 | 0.48 | 0.51 | 0.52 | 0.57 | 0.57 |
| Return ratios | ||||||||
| Return on assets % | — | — | -0.5% | 6.6% | 5.1% | 4.9% | 5.9% | 6.7% |
| Return on capital employed % | — | — | 1.6% | 7.7% | 7.8% | 9.1% | 11.4% | 13% |
| Return on equity % | — | — | -0.9% | 12.8% | 8.7% | 8.4% | 9.1% | 10.8% |
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.