Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.5% | 45.6% | 52.6% | 56.2% | 42.5% | 59% | 60.9% | 70% |
| EBITDA margin % | 31.2% | 35.7% | 42% | 43.7% | 31.8% | 46.9% | 44.5% | 53.3% |
| EBIT margin % | 18.5% | 21.6% | 25.1% | 29.9% | 20.4% | 32.6% | 30.4% | 36.4% |
| PAT margin % | 7.5% | 13.1% | 11.9% | 21.4% | 14.3% | 15% | 16.9% | 14.6% |
| Working capital | ||||||||
| Receivable days | 57 | 69 | 69 | 54 | 82 | 54 | 81 | 57 |
| Inventory days | 31 | 52 | 44 | 92 | 61 | 64 | 72 | 62 |
| Payable days | 124 | 130 | 106 | 110 | 78 | 104 | 112 | 92 |
| NWC days | -36 | -9 | 7 | 36 | 64 | 14 | 41 | 28 |
| Leverage | ||||||||
| Current ratio | 0.71 | 1.04 | 1.22 | 1.02 | 1.07 | 1.19 | 1.06 | 0.76 |
| Debt to EBITDA | 3.24 | 2.9 | 2.87 | 2.49 | 7.56 | 5.82 | 9.5 | 7.54 |
| Debt to equity | 0.78 | 0.74 | 0.58 | 0.51 | 1.33 | 1.5 | 1.81 | 2.47 |
| Interest coverage | 1.7 | 2 | 2.2 | 3.9 | 3.1 | 2 | 2 | 1.4 |
| Asset turnover | 0.35 | 0.33 | 0.26 | 0.26 | 0.21 | 0.2 | 0.13 | 0.15 |
| Return ratios | ||||||||
| Return on assets % | 2.6% | 4.3% | 3.1% | 5.6% | 3% | 3% | 2.2% | 2.2% |
| Return on capital employed % | 9.5% | 9.8% | 9.1% | 12.3% | 8.1% | 9.3% | 6.9% | 8.6% |
| Return on equity % | 5.8% | 9.3% | 5.7% | 10% | 7.9% | 8.3% | 7.2% | 9% |
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.