Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 79.8% | 82.1% | 79% | 80.3% | 79.8% | 78.6% | 80.1% | 81.1% |
| EBITDA margin % | 10.5% | 18.3% | 19.9% | 17.5% | 13% | 15.5% | 14% | 15% |
| EBIT margin % | 5.6% | 13.2% | 15.1% | 13.4% | 9.5% | 11.9% | 9.1% | 10.2% |
| PAT margin % | 0.9% | 5.8% | 8.9% | 8.8% | 5.7% | 7.2% | 4.9% | 6.1% |
| Working capital | ||||||||
| Receivable days | 9 | 8 | 4 | 2 | 4 | 2 | 6 | 6 |
| Inventory days | 148 | 225 | 134 | 198 | 236 | 249 | 256 | 184 |
| Payable days | 229 | 239 | 154 | 125 | 164 | 140 | 134 | 133 |
| NWC days | -71 | -6 | -15 | 76 | 75 | 112 | 128 | 57 |
| Leverage | ||||||||
| Current ratio | 0.65 | 0.74 | 1 | 1.14 | 1.17 | 0.9 | 0.95 | 1.29 |
| Debt to EBITDA | 3.81 | 1.84 | 1.76 | 1.95 | 2.2 | 1.92 | 2.92 | 2.47 |
| Debt to equity | 1.16 | 0.87 | 0.79 | 0.74 | 0.66 | 0.64 | 0.73 | 0.64 |
| Interest coverage | 1.2 | 2.8 | 4.1 | 5.6 | 5 | 5.8 | 3.4 | 3.8 |
| Asset turnover | 0.85 | 0.85 | 0.89 | 0.91 | 0.99 | 0.89 | 0.73 | 0.79 |
| Return ratios | ||||||||
| Return on assets % | 0.8% | 4.9% | 8% | 8.1% | 5.6% | 6.4% | 3.6% | 4.8% |
| Return on capital employed % | 8.4% | 17.9% | 21.6% | 19.8% | 14.7% | 16.6% | 10.1% | 12.1% |
| Return on equity % | 2.7% | 15% | 20.1% | 19.1% | 13.2% | 15.3% | 8.7% | 10.6% |
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.