Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 49.7% | 50% | 53.6% | 51.2% | 47.9% | 49.3% | 50% | 47.8% |
| EBITDA margin % | 11.6% | 10% | 15.2% | 11.3% | 11% | 9.4% | 7.8% | 7.2% |
| EBIT margin % | 6.7% | 4.7% | 10.4% | 7.3% | 7% | 5.5% | 3.4% | 3% |
| PAT margin % | 5.4% | 2.1% | 6.4% | 6.2% | 5.7% | 5% | 2.6% | 1.8% |
| Working capital | ||||||||
| Receivable days | 89 | — | 82 | 79 | 92 | 72 | 79 | 82 |
| Inventory days | 121 | — | 129 | 154 | 153 | 132 | 179 | 152 |
| Payable days | 96 | — | 119 | 111 | 94 | 79 | 104 | 86 |
| NWC days | 114 | — | 91 | 122 | 151 | 126 | 154 | 148 |
| Leverage | ||||||||
| Current ratio | 2.61 | — | 3.22 | 2.82 | 2.71 | 2.68 | 2.28 | 2.34 |
| Debt to EBITDA | 0.78 | — | 0.31 | 0.59 | 1.05 | 1.06 | 1.57 | 1.44 |
| Debt to equity | 0.11 | — | 0.05 | 0.09 | 0.16 | 0.15 | 0.18 | 0.17 |
| Interest coverage | 15.4 | 15 | 41.6 | 31.5 | 22.8 | 9.9 | 5.3 | 4.2 |
| Asset turnover | 0.92 | — | 0.86 | 0.98 | 0.97 | 1.1 | 1.02 | 1.13 |
| Return ratios | ||||||||
| Return on assets % | 5% | — | 5.5% | 6% | 5.6% | 5.5% | 2.7% | 2.1% |
| Return on capital employed % | 8.6% | — | 13.3% | 11% | 10.4% | 9.5% | 6.2% | 5.4% |
| Return on equity % | 6.4% | — | 7.4% | 8.3% | 7.9% | 7.6% | 3.9% | 3% |
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.