Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 51.1% | 50.2% | 49% | 44.2% | 45% | 49.4% | 46.3% | 41.6% |
| EBITDA margin % | 16.7% | 13.5% | 13.9% | 13% | 11.7% | 10% | 6.3% | 10.3% |
| EBIT margin % | 10.6% | 7.2% | 7.2% | 8.4% | 6.7% | 4.1% | -0.4% | 6.1% |
| PAT margin % | 8.8% | 3.9% | 8.4% | 8.9% | 7.7% | 3.8% | -1.8% | 1.3% |
| Working capital | ||||||||
| Receivable days | 25 | 21 | 23 | 15 | 20 | 23 | 65 | 76 |
| Inventory days | 142 | 172 | 221 | 126 | 138 | 172 | 284 | 220 |
| Payable days | 10 | 15 | 10 | 10 | 8 | 19 | 74 | 86 |
| NWC days | 157 | 179 | 233 | 132 | 149 | 176 | 276 | 210 |
| Leverage | ||||||||
| Current ratio | 5.16 | 3.93 | 3.9 | 4.71 | 3.3 | 2.04 | 1.54 | 1.23 |
| Debt to EBITDA | 0.29 | 0.41 | 0.36 | 0.11 | 0.88 | 2.83 | 12.2 | 6.11 |
| Debt to equity | 0.03 | 0.03 | 0.02 | 0.01 | 0.07 | 0.17 | 0.52 | 0.83 |
| Interest coverage | 49 | 15.9 | 30 | 73.4 | 35 | 15.9 | 0.9 | 1.5 |
| Asset turnover | 0.47 | 0.46 | 0.43 | 0.59 | 0.55 | 0.44 | 0.36 | 0.57 |
| Return ratios | ||||||||
| Return on assets % | 4.2% | 1.8% | 3.6% | 5.3% | 4.2% | 1.7% | -0.7% | 0.7% |
| Return on capital employed % | 7.1% | 4.6% | 5.8% | 8.8% | 6.1% | 3.2% | 1.6% | 6.4% |
| Return on equity % | 4.7% | 2.1% | 4.1% | 6.1% | 5% | 2.2% | -1.2% | 1.7% |
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.