Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 21.5% | 19% | 19.7% | 21.3% | 18.5% | 19% | 18% | 19.9% |
| EBITDA margin % | 8.6% | 7.2% | 7.9% | 9.5% | 7.1% | 9% | 8.4% | 10.2% |
| EBIT margin % | 7.8% | 5.9% | 6.5% | 8.6% | 6.2% | 7.8% | 7.6% | 9.3% |
| PAT margin % | 4.6% | 2.7% | 4% | 6.7% | 7.3% | 7.7% | 8.1% | 8.9% |
| Working capital | ||||||||
| Receivable days | — | — | 15 | 18 | 18 | 31 | 26 | 37 |
| Inventory days | — | — | 115 | 107 | 95 | 96 | 71 | 109 |
| Payable days | — | — | 51 | 16 | 14 | 10 | 5 | 7 |
| NWC days | — | — | 80 | 109 | 99 | 117 | 92 | 139 |
| Leverage | ||||||||
| Current ratio | — | — | 1.37 | 1.61 | 1.76 | 2.4 | 8.43 | 2.91 |
| Debt to EBITDA | — | — | 2.02 | 1.84 | 1.74 | 1.92 | 0.87 | 1.68 |
| Debt to equity | — | — | 0.84 | 1 | 0.58 | 0.65 | 0.14 | 0.3 |
| Interest coverage | 4.7 | 2.9 | 3.5 | 5.9 | 6.8 | 6.6 | 9.4 | 19.1 |
| Asset turnover | — | — | 1.94 | 2.22 | 2.32 | 1.97 | 1.54 | 1.25 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.8% | 14.9% | 16.9% | 15.1% | 12.4% | 11.1% |
| Return on capital employed % | — | — | 29.1% | 45.6% | 42.9% | 35.4% | 24% | 19.3% |
| Return on equity % | — | — | 21.1% | 38.4% | 34.7% | 28.9% | 15.1% | 15.4% |
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.