Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 19.8% | 15.4% | 12.8% | 14.1% | 17.5% | 21.7% | 21.7% |
| EBITDA margin % | 7.2% | 6.3% | 5.6% | 6.7% | 8.1% | 8.2% | 8.6% |
| EBIT margin % | 5.8% | 4.9% | 4.4% | 5.2% | 6.1% | 6% | 6.4% |
| PAT margin % | 2.8% | 2.7% | 2.2% | 2.7% | 3.4% | 3.1% | 3.5% |
| Working capital | |||||||
| Receivable days | 18 | 13 | 13 | 15 | 23 | 21 | 22 |
| Inventory days | 65 | 52 | 49 | 55 | 79 | 98 | 106 |
| Payable days | — | 66 | 56 | 55 | 68 | 68 | 69 |
| NWC days | — | -1 | 6 | 14 | 34 | 51 | 59 |
| Leverage | |||||||
| Current ratio | 1.28 | 1.29 | 1.18 | 1.18 | 1.26 | 1.45 | 1.41 |
| Debt to EBITDA | 2.63 | 2.44 | 2.83 | 2.85 | 3.09 | 2.92 | 2.89 |
| Debt to equity | 0.78 | 0.84 | 1.07 | 1.32 | 1.06 | 0.96 | 0.9 |
| Interest coverage | 4.2 | 3.8 | 4.6 | 3.9 | 3.1 | 2.8 | 3.5 |
| Asset turnover | 1.43 | 1.91 | 2.07 | 1.95 | 1.43 | 1.43 | 1.34 |
| Return ratios | |||||||
| Return on assets % | 4.1% | 5.1% | 4.5% | 5.3% | 4.8% | 4.4% | 4.7% |
| Return on capital employed % | 13.4% | 17.7% | 17.5% | 19.5% | 16.8% | 16% | 15.7% |
| Return on equity % | 11.7% | 14.6% | 14.7% | 19% | 14.4% | 12.3% | 12.8% |
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.