Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.3% | 65.7% | 74.8% | 75.4% | 70.1% | 68.1% | 68% | 68.1% |
| EBITDA margin % | 15% | 21.3% | 22.9% | 17.9% | 12.4% | 13.4% | 16.2% | 15.2% |
| EBIT margin % | 15% | 16.2% | 17.2% | 11.6% | 3.5% | 7.7% | 11.1% | 9.9% |
| PAT margin % | 6.3% | 9.8% | 13.7% | 6.8% | -1% | 1.1% | 11.6% | 4.8% |
| Working capital | ||||||||
| Receivable days | 51 | 52 | 49 | 56 | 56 | 50 | 45 | 47 |
| Inventory days | 147 | 214 | 268 | 308 | 268 | 220 | 178 | 170 |
| Payable days | 106 | 127 | 124 | 139 | 160 | 146 | 158 | 170 |
| NWC days | 92 | 139 | 194 | 224 | 165 | 124 | 65 | 47 |
| Leverage | ||||||||
| Current ratio | 2.19 | 1.92 | 2.82 | 2.2 | 2.12 | 1.92 | 1.62 | 1.62 |
| Debt to EBITDA | 3.47 | 2.25 | 1.85 | 2.7 | 4.39 | 3.79 | 2.08 | 2.56 |
| Debt to equity | 0.99 | 0.78 | 0.54 | 0.55 | 0.63 | 0.63 | 0.39 | 0.45 |
| Interest coverage | 6.4 | 5.3 | 5.8 | 5.4 | 1.4 | 2.2 | 3.6 | 4.2 |
| Asset turnover | 0.79 | 0.73 | 0.68 | 0.61 | 0.56 | 0.58 | 0.57 | 0.53 |
| Return ratios | ||||||||
| Return on assets % | 5% | 7.2% | 9.4% | 4.1% | -0.6% | 0.6% | 6.6% | 2.6% |
| Return on capital employed % | 16.5% | 15.9% | 12% | 9.7% | 2.9% | 6.2% | 8.5% | 7.5% |
| Return on equity % | 12% | 16% | 17.6% | 7.8% | -1.2% | 1.3% | 13.4% | 5.6% |
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.