Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 44.8% | 54.6% | 55.7% | 41.5% | 45.8% | ||
| 44.7% |
| 49.2% |
| EBITDA margin % | 19% | 30.2% | 34.5% | 19.7% | 24.3% | 22.2% | 23.3% |
| EBIT margin % | 14.8% | 26.8% | 32.6% | 17.5% | 21.8% | 19.3% | 20% |
| PAT margin % | 5.4% | 16.1% | 27.2% | 13.8% | 17.2% | 15.1% | 14.9% |
| Working capital | |||||||
| Receivable days | — | 25 | 24 | 19 | 14 | 9 | 9 |
| Inventory days | — | 100 | 133 | 88 | 111 | 115 | 124 |
| Payable days | — | 39 | 81 | 57 | 65 | 57 | 59 |
| NWC days | — | 85 | 76 | 50 | 60 | 67 | 73 |
| Leverage | |||||||
| Current ratio | — | 2.51 | 1.93 | 2.45 | 3.23 | 2.42 | 3.04 |
| Debt to EBITDA | — | 0.69 | 0.23 | 0.28 | 0.04 | 0.26 | 0.34 |
| Debt to equity | — | 0.42 | 0.13 | 0.08 | 0.01 | 0.06 | 0.07 |
| Interest coverage | 2.3 | 7.1 | 90.9 | 54.6 | 21.5 | 20.5 | 20 |
| Asset turnover | — | 1.17 | 1.1 | 1.12 | 0.98 | 0.87 | 0.74 |
| Return ratios | |||||||
| Return on assets % | — | 18.8% | 30% | 15.4% | 16.9% | 13.2% | 11% |
| Return on capital employed % | — | 35.7% | 53.2% | 28.3% | 28.5% | 22.6% | 20.1% |
| Return on equity % | — | 32.2% | 44.3% | 20.3% | 20.8% | 16.6% | 13.8% |
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.