Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 22.1% | 22.8% | 26.5% | 24.1% | 21.2% | 24.2% | 26% | 26% |
| EBITDA margin % | 7.8% | 7% | 9% | 8% | 5.6% | 7.3% | 8.7% | 8.4% |
| EBIT margin % | 6.1% | 4.9% | 6.5% | 5.9% | 3.6% | 5.1% | 6.3% | 6.2% |
| PAT margin % | 6% | 4.3% | 5.6% | 5.1% | 3.2% | 3.8% | 4.3% | 4.4% |
| Working capital | ||||||||
| Receivable days | — | 45 | 48 | 42 | 22 | 20 | 22 | 24 |
| Inventory days | — | 60 | 78 | 83 | 66 | 70 | 66 | 65 |
| Payable days | — | 87 | 62 | 40 | 35 | 32 | 47 | 80 |
| NWC days | — | 17 | 64 | 84 | 54 | 58 | 42 | 10 |
| Leverage | ||||||||
| Current ratio | — | 0.96 | 1.09 | 1.06 | 0.97 | 1.04 | 0.99 | 0.94 |
| Debt to EBITDA | — | 1.27 | 1.75 | 2.35 | 2.53 | 1.87 | 1.57 | 1.7 |
| Debt to equity | — | 0.34 | 0.48 | 0.69 | 0.57 | 0.52 | 0.54 | 0.72 |
| Interest coverage | 12.1 | 9.3 | 9.7 | 9.1 | 4.5 | 4.9 | 4.8 | 5.4 |
| Asset turnover | 2.86 | 1.48 | 1.31 | 1.49 | 1.71 | 1.68 | 1.7 | 1.66 |
| Return ratios | ||||||||
| Return on assets % | 17% | 6.4% | 7.2% | 7.5% | 5.4% | 6.3% | 7.3% | 7.2% |
| Return on capital employed % | — | 15.6% | 16.9% | 19.8% | 14.7% | 16% | 18.6% | 22.6% |
| Return on equity % | — | 16.4% | 16.9% | 18.5% | 12.6% | 14.3% | 16.9% | 21.9% |
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.