Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 43% | 46.2% | 45.1% | 44.3% | ||||
| 37.8% |
| 40% |
| 37.8% |
| 34.8% |
| EBITDA margin % | 5.7% | 9.3% | 9.6% | 8.6% | 8.3% | 9.5% | 12.3% | 5.6% |
| EBIT margin % | 3.8% | 6.7% | 6.7% | 6.3% | 6.4% | 7.8% | 10.8% | 3.2% |
| PAT margin % | 2.6% | 0.2% | 3.6% | 3.7% | 4.2% | 5.3% | 7.3% | 12.6% |
| Working capital | ||||||||
| Receivable days | 112 | 107 | 114 | 101 | 98 | 115 | 124 | 130 |
| Inventory days | 74 | 89 | 77 | 57 | 43 | 37 | 32 | 5 |
| Payable days | 119 | 122 | 128 | 98 | 112 | 105 | 106 | 55 |
| NWC days | 67 | 74 | 63 | 60 | 29 | 47 | 50 | 81 |
| Leverage | ||||||||
| Current ratio | 1.34 | 1.25 | 1.43 | 1.5 | 1.31 | 1.48 | 1.5 | 3.72 |
| Debt to EBITDA | 3.56 | 2.11 | 1.38 | 1.05 | 0.39 | 0.89 | 0.76 | 0.57 |
| Debt to equity | 0.91 | 0.9 | 0.44 | 0.34 | 0.14 | 0.27 | 0.29 | 0.05 |
| Interest coverage | 1.9 | 2.4 | 3.7 | 5.3 | 7.3 | 9.3 | 10.1 | 2 |
| Asset turnover | 1.27 | 1.25 | 1.28 | 1.52 | 1.82 | 1.5 | 1.47 | 1.16 |
| Return ratios | ||||||||
| Return on assets % | 3.2% | 0.2% | 4.7% | 5.6% | 7.7% | 7.9% | 10.8% | 14.6% |
| Return on capital employed % | 13.3% | 19.3% | 17.3% | 19.8% | 26.9% | 28.6% | 36.6% | 7.9% |
| Return on equity % | 11.5% | 0.9% | 12.1% | 13.9% | 19.1% | 17.1% | 22.4% | 19.8% |
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.