Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 39.6% | 41.2% | 41.3% | 40.2% | 39% | 39.7% | 40.3% | 40.6% |
| EBITDA margin % | 10.2% | 11% | 10% | 9.6% | 9.2% | 8.6% | 9.6% | 9.9% |
| EBIT margin % | 8.6% | 9.1% | 8% | 8% | 7.2% | 6.1% | 7.1% | 7.5% |
| PAT margin % | 5.6% | 3.3% | 5.2% | 6.1% | 5% | 3.2% | 3.7% | 3.3% |
| Working capital | ||||||||
| Receivable days | 79 | — | 61 | 44 | 45 | 42 | 47 | 54 |
| Inventory days | 73 | — | 96 | 88 | 90 | 96 | 127 | 82 |
| Payable days | — | — | 109 | 84 | 79 | 92 | 132 | 101 |
| NWC days | — | — | 47 | 47 | 57 | 46 | 43 | 35 |
| Leverage | ||||||||
| Current ratio | 1.16 | — | 1.41 | 1.22 | 1.33 | 1.28 | 1.24 | 1.29 |
| Debt to EBITDA | 1.54 | — | 1.64 | 1.94 | 3.92 | 2.81 | 2.05 | 1.81 |
| Debt to equity | 0.66 | — | 0.44 | 0.54 | 1.03 | 0.74 | 0.6 | 0.55 |
| Interest coverage | 6.7 | 6.3 | 6 | 11.3 | 5.6 | 3.4 | 4.5 | 4.1 |
| Asset turnover | 1.59 | 4.38 | 1.27 | 1.35 | 1.1 | 1.31 | 1.27 | 1.4 |
| Return ratios | ||||||||
| Return on assets % | 9% | 14.6% | 6.7% | 8.2% | 5.4% | 4.2% | 4.7% | 4.6% |
| Return on capital employed % | 13% | — | 19.2% | 22% | 15.7% | 12.6% | 16.6% | 18% |
| Return on equity % | 23.8% | — | 13.9% | 17.6% | 14.2% | 9.9% | 11.3% | 10% |
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.