Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 65.9% | 70.7% | 73.5% | 69.7% | 61.4% | 60.5% | 61.4% |
| EBITDA margin % | 13.8% | 13.8% | 22.8% | 17.8% | 7.7% | 12.5% | 13.1% | 13.3% |
| EBIT margin % | 9.2% | 7.1% | 17.4% | 13.6% | 3.7% | 9.3% | 9.7% | 10% |
| PAT margin % | 6.5% | 4.1% | 10.8% | 11.4% | 4% | 9.9% | 10% | 10.7% |
| Working capital | ||||||||
| Receivable days | — | — | 25 | — | 25 | 22 | 27 | 22 |
| Inventory days | — | — | 203 | — | 295 | 156 | 187 | 226 |
| Payable days | — | — | 83 | — | 60 | 37 | 39 | 42 |
| NWC days | — | — | 145 | — | 260 | 142 | 175 | 206 |
| Leverage | ||||||||
| Current ratio | — | — | 1.98 | — | 1.91 | 2.31 | 2.5 | 2.8 |
| Debt to EBITDA | — | — | 0.9 | — | 3.21 | 1.35 | 1.63 | 1.93 |
| Debt to equity | — | — | 0.35 | — | 0.46 | 0.34 | 0.35 | 0.37 |
| Interest coverage | 4.2 | 1.8 | 6.6 | 9.6 | 3.2 | 8.2 | 9.6 | 9.9 |
| Asset turnover | — | — | 0.81 | — | 0.86 | 1.01 | 0.82 | 0.72 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.8% | — | 3.5% | 9.9% | 8.2% | 7.7% |
| Return on capital employed % | — | — | 18.7% | — | 6.7% | 17.2% | 13.9% | 12.9% |
| Return on equity % | — | — | 18.6% | — | 7.4% | 19.9% | 16.5% | 15.5% |
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.