Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 37.4% | 42.5% | 36.5% | 35.8% | 40.2% | 43% | 39% |
| EBITDA margin % | 14.7% | 16.8% | 8.7% | 9.7% | 11.2% | 19.2% | 19.2% |
| EBIT margin % | 12.6% | 13.2% | 5.7% | 7.4% | 9.5% | 17.8% | 18.1% |
| PAT margin % | 6.9% | 11.3% | 8.4% | 3.6% | 7.2% | 12.8% | 12.5% |
| Working capital | |||||||
| Receivable days | — | 339 | 297 | 213 | 176 | 204 | 115 |
| Inventory days | — | 185 | 185 | 201 | 246 | 223 | 170 |
| Payable days | — | 173 | 161 | 115 | 187 | 152 | 97 |
| NWC days | — | 351 | 320 | 299 | 235 | 275 | 188 |
| Leverage | |||||||
| Current ratio | — | 2.61 | 2.26 | 2.24 | 2.27 | 1.97 | 1.75 |
| Debt to EBITDA | — | 1.91 | 4.4 | 4.41 | 4.35 | 2.91 | 2.52 |
| Debt to equity | — | 0.22 | 0.27 | 0.35 | 0.37 | 0.73 | 1.04 |
| Interest coverage | 4.6 | 5.1 | 3.8 | 2.6 | 3.4 | 4.5 | 5.8 |
| Asset turnover | — | 0.45 | 0.45 | 0.49 | 0.43 | 0.56 | 0.75 |
| Return ratios | |||||||
| Return on assets % | — | 5% | 3.8% | 1.7% | 3.1% | 7.2% | 9.3% |
| Return on capital employed % | — | 13.1% | 10% | 7% | 13.8% | 23.7% | 31% |
| Return on equity % | — | 7.6% | 6% | 3% | 5.5% | 16.7% | 26.7% |
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.