Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 24.7% | 28.5% | 28.8% | 27.9% | 27% | 26.7% | 27.4% | 30.8% |
| EBITDA margin % | 7.6% | 7.8% | 7.4% | 7% | 6.7% | 8% | 7.9% | 9.7% |
| EBIT margin % | 6.2% | 6.2% | 5.7% | 5.9% | 5.6% | 7% | 6.8% | 8.1% |
| PAT margin % | 1.9% | 2.1% | 1.9% | 2.9% | 2.9% | 3.8% | 4.2% | 4.5% |
| Working capital | ||||||||
| Receivable days | 54 | — | 55 | 40 | 42 | 36 | 47 | 43 |
| Inventory days | 89 | — | 115 | 83 | 85 | 86 | 80 | 110 |
| Payable days | 29 | — | 32 | 20 | 21 | 19 | 15 | 20 |
| NWC days | 114 | — | 137 | 103 | 106 | 103 | 112 | 132 |
| Leverage | ||||||||
| Current ratio | 1.24 | — | 1.37 | 1.35 | 1.42 | 1.93 | 1.51 | 1.38 |
| Debt to EBITDA | 3.71 | — | 4.3 | 2.95 | 2.92 | 2.17 | 2.84 | 2.81 |
| Debt to equity | 1.51 | — | 1.31 | 1.16 | 0.96 | 0.53 | 0.67 | 0.75 |
| Interest coverage | 1.7 | 1.7 | 1.7 | 2.8 | 2.8 | 3.4 | 3.7 | 3.3 |
| Asset turnover | 1.7 | — | 1.43 | 2.08 | 2.09 | 1.73 | 1.56 | 1.35 |
| Return ratios | ||||||||
| Return on assets % | 3.2% | — | 2.7% | 6% | 6% | 6.5% | 6.5% | 6% |
| Return on capital employed % | 22.8% | — | 17.3% | 27% | 27.2% | 25.4% | 21.1% | 20.8% |
| Return on equity % | 10.2% | — | 7.8% | 16.1% | 14.2% | 11.5% | 12.6% | 12.2% |
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.