Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 69.1% | 71.3% | 76.3% | 74.1% | 70.3% | 75% | 77.9% | 77.4% |
| EBITDA margin % | 22.6% | 20.6% | 17.7% | 22.3% | 13.7% | 19% | 8.5% | 13.3% |
| EBIT margin % | 17.2% | 13.7% | 7.7% | 14.9% | 7.9% | 8.3% | 2.8% | 8.7% |
| PAT margin % | 11.6% | 13.4% | 6.1% | 13.4% | 10.6% | 8.5% | 5% | 9.9% |
| Working capital | ||||||||
| Receivable days | 98 | — | 122 | 98 | 89 | 92 | 87 | 86 |
| Inventory days | 84 | — | 64 | 72 | 60 | 38 | 52 | 36 |
| Payable days | 1 | — | 114 | 122 | 111 | 128 | 122 | 112 |
| NWC days | 181 | — | 72 | 48 | 38 | 2 | 17 | 10 |
| Leverage | ||||||||
| Current ratio | 1.72 | — | 2.87 | 2.39 | 1.66 | 2.27 | 2.9 | 3.55 |
| Debt to EBITDA | 0.64 | — | 1.18 | 0.77 | 1.45 | 0.49 | 0.65 | 0.14 |
| Debt to equity | 0.18 | — | 0.13 | 0.13 | 0.21 | 0.09 | 0.05 | 0.02 |
| Interest coverage | 17.3 | 9.6 | 4.5 | 9.8 | 6.6 | 9.1 | 7.4 | 14.1 |
| Asset turnover | 0.76 | — | 0.43 | 0.51 | 0.63 | 0.68 | 0.69 | 0.69 |
| Return ratios | ||||||||
| Return on assets % | 8.8% | — | 2.6% | 6.8% | 6.7% | 5.8% | 3.4% | 6.8% |
| Return on capital employed % | 18% | — | 5.7% | 11.3% | 10% | 10.9% | 6.9% | 12.8% |
| Return on equity % | 14.6% | — | 3.9% | 10.1% | 11.3% | 8.6% | 4.8% | 9.2% |
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.