Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 46.7% | 45.2% | 49.6% | 52.4% | 54.8% | 57.4% | 55.5% | 54.3% |
| EBITDA margin % | 8.1% | 8.8% | 15% | 15.3% | 15.1% | 15.7% | 12.9% | 9.5% |
| EBIT margin % | 6.2% | 6.7% | 13.2% | 13.8% | 12.9% | 13.4% | 10.1% | 5.6% |
| PAT margin % | 3.1% | 3.5% | 9.9% | 12.6% | 9.2% | 9.5% | 5.9% | 3.1% |
| Working capital | ||||||||
| Receivable days | 48 | 43 | 75 | 63 | 50 | 54 | 52 | 45 |
| Inventory days | 188 | 168 | 206 | 288 | 240 | 275 | 229 | 241 |
| Payable days | 51 | 41 | 67 | 45 | 60 | 74 | 46 | 72 |
| NWC days | 185 | 169 | 214 | 307 | 229 | 255 | 236 | 215 |
| Leverage | ||||||||
| Current ratio | 2.21 | 1.88 | 1.92 | 1.5 | 1.79 | 1.81 | 1.7 | 1.71 |
| Debt to EBITDA | 2.02 | 1.79 | 1.52 | 3 | 1.85 | 1.64 | 2.28 | 2.74 |
| Debt to equity | 0.32 | 0.33 | 0.45 | 0.82 | 0.47 | 0.44 | 0.53 | 0.46 |
| Interest coverage | 3.7 | 5 | 13.2 | 11.3 | 6.7 | 7.4 | 3.7 | 2.2 |
| Asset turnover | 1.19 | 1.23 | 1.1 | 0.87 | 0.98 | 1 | 0.97 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | 3.7% | 4.3% | 10.9% | 11% | 9% | 9.5% | 5.8% | 2.8% |
| Return on capital employed % | 11.3% | 17.1% | 29.6% | 33.7% | 21.8% | 23.2% | 17.1% | 10% |
| Return on equity % | 6.1% | 7.4% | 19.4% | 22.5% | 15.4% | 16.2% | 10.8% | 5.4% |
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.