Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.7% | 57% | 55.3% | 60.1% | 59.7% | 60% | 60.7% | 60.4% |
| EBITDA margin % | — | 18.8% | 13.9% | 11.2% | 13.6% | 13.8% | 11.3% | 11.4% |
| EBIT margin % | — | 15.2% | 8.8% | 6% | 9.8% | 9.6% | 6.8% | 7% |
| PAT margin % | 10.1% | 12% | 6.3% | 3% | 6.7% | 5.1% | 1.5% | 1.5% |
| Working capital | ||||||||
| Receivable days | 49 | 46 | 113 | 51 | 50 | 46 | 44 | 48 |
| Inventory days | 181 | 181 | 470 | 241 | 220 | 165 | 157 | 167 |
| Payable days | — | — | — | — | 153 | 106 | 116 | 123 |
| NWC days | — | — | — | — | 117 | 105 | 85 | 92 |
| Leverage | ||||||||
| Current ratio | — | — | 1.63 | 1.58 | 1.49 | 1.61 | 1.62 | 1.6 |
| Debt to EBITDA | — | — | 3.19 | 1.78 | 1.85 | 1.49 | 1.8 | 2.07 |
| Debt to equity | — | — | 1.09 | 0.96 | 0.99 | 0.74 | 0.64 | 0.69 |
| Interest coverage | -2.2 | 27.4 | 11 | 6.4 | 5.5 | 3.7 | 2.4 | 2.4 |
| Asset turnover | 1.16 | 1.09 | 0.41 | 0.93 | 0.95 | 1.09 | 1.03 | 0.88 |
| Return ratios | ||||||||
| Return on assets % | 11.6% | 13.1% | 2.6% | 2.8% | 6.4% | 5.5% | 1.6% | 1.3% |
| Return on capital employed % | — | — | 7% | 9.7% | 20.1% | 17.6% | 12.4% | 12.9% |
| Return on equity % | 18.8% | 20.7% | 15.6% | 14.3% | 26.6% | 18% | 4.8% | 4.3% |
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.