Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 89.2% | 76.6% | 73.3% | 70.9% | 68.5% | 71.6% | 75.4% |
| EBITDA margin % | 30.2% | 32% | 25.5% | 19% | 17.6% | 19.6% | 26.1% |
| EBIT margin % | 23.1% | 25.8% | 18.5% | 11.2% | 12% | 14.2% | 20.4% |
| PAT margin % | 16.9% | 16.2% | 16.8% | 10.5% | 7% | 9.3% | 17.3% |
| Working capital | |||||||
| Receivable days | 116 | 84 | 86 | 109 | 94 | 86 | 105 |
| Inventory days | 1,185 | 452 | 439 | 399 | 288 | 291 | 323 |
| Payable days | 371 | 204 | 105 | 141 | 101 | 122 | 110 |
| NWC days | 930 | 332 | 420 | 367 | 281 | 255 | 318 |
| Leverage | |||||||
| Current ratio | 1.91 | 2.63 | 2.01 | 1.53 | 2.03 | 1.56 | 1.37 |
| Debt to EBITDA | 1.97 | 1.52 | 3.71 | 5.3 | 4.46 | 3.4 | 2.17 |
| Debt to equity | 0.54 | 0.46 | 0.86 | 0.96 | 0.82 | 0.66 | 0.52 |
| Interest coverage | 6.6 | 9.1 | 14.1 | 4.8 | 2.4 | 3.8 | 7.1 |
| Asset turnover | 0.47 | 0.52 | 0.42 | 0.4 | 0.46 | 0.48 | 0.49 |
| Return ratios | |||||||
| Return on assets % | 8% | 8.4% | 7% | 4.2% | 3.2% | 4.4% | 8.5% |
| Return on capital employed % | 16.1% | 18.4% | 14% | 9.1% | 8.7% | 8.9% | 14.7% |
| Return on equity % | 15.4% | 15.2% | 15.2% | 10% | 7.3% | 9.2% | 16% |
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.