Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41% | 43.4% | 44.1% | 39.6% | 39% | 40.6% | 39.1% | 38.9% |
| EBITDA margin % | 4.8% | 4.6% | 7.5% | 1.6% | 3.9% | 4.9% | 5.9% | 5.7% |
| EBIT margin % | 2.6% | 1.1% | 3.8% | -1.8% | 1% | 2.1% | 3.3% | 3.5% |
| PAT margin % | 2.7% | 1% | 2.3% | -1.4% | 0.4% | 1.1% | 2.3% | 2.6% |
| Working capital | ||||||||
| Receivable days | — | — | 35 | 33 | 36 | 38 | 31 | 28 |
| Inventory days | — | — | 108 | 102 | 82 | 75 | 79 | 68 |
| Payable days | — | — | 153 | 144 | 118 | 136 | 111 | 106 |
| NWC days | — | — | -10 | -8 | -1 | -23 | -1 | -10 |
| Leverage | ||||||||
| Current ratio | — | — | 1.36 | 1.17 | 1.09 | 1.14 | 1.22 | 1.33 |
| Debt to EBITDA | — | — | 0.94 | 4.3 | 1.25 | 0.32 | 0.33 | 0.05 |
| Debt to equity | — | — | 0.28 | 0.37 | 0.31 | 0.1 | 0.12 | 0.02 |
| Interest coverage | 11.3 | 2.6 | 4.2 | -1.3 | 2.2 | 4.5 | 8.6 | 10.7 |
| Asset turnover | — | — | 1.48 | 1.68 | 1.99 | 2.04 | 2.16 | 2.26 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.4% | -2.4% | 0.7% | 2.3% | 5% | 5.8% |
| Return on capital employed % | — | — | 12.7% | -4.3% | 6.7% | 13.2% | 20.3% | 19.5% |
| Return on equity % | — | — | 9.2% | -7.4% | 2.2% | 7% | 14.1% | 14.4% |
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.