Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 42.2% | 42.1% | 41.1% | 42.2% | 43.8% | 43% | 40.8% | 40.7% |
| EBITDA margin % | 10.5% | 11.7% | 11.8% | 13.1% | 14.4% | 17.8% | 15.8% | 14.3% |
| EBIT margin % | 8.4% | 4.3% | 3.4% | 7.6% | 10% | 13.2% | 10.6% | 8.7% |
| PAT margin % | 4% | -0.3% | 1.3% | 4.6% | 6.9% | 9.9% | 8.6% | 6.3% |
| Working capital | ||||||||
| Receivable days | — | — | 27 | 20 | 20 | 19 | 20 | 20 |
| Inventory days | — | — | 254 | 216 | 221 | 225 | 246 | 227 |
| Payable days | — | — | 98 | 82 | 74 | 57 | 43 | 55 |
| NWC days | — | — | 183 | 155 | 167 | 187 | 223 | 192 |
| Leverage | ||||||||
| Current ratio | — | — | 1.48 | 1.69 | 2.73 | 3.59 | 4.16 | 3.85 |
| Debt to EBITDA | — | — | 2.4 | 1.45 | 0.79 | 0.42 | 0.5 | 0.51 |
| Debt to equity | — | — | 0.84 | 0.62 | 0.28 | 0.14 | 0.14 | 0.14 |
| Interest coverage | 3.7 | 1.2 | 1.4 | 3.1 | 5.5 | 8.1 | 7 | 5.7 |
| Asset turnover | — | — | 0.89 | 1.11 | 0.96 | 0.85 | 0.79 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.1% | 5% | 6.6% | 8.4% | 6.8% | 4.9% |
| Return on capital employed % | — | — | 9.6% | 17.8% | 19.3% | 19.3% | 14.4% | 11.9% |
| Return on equity % | — | — | 3.7% | 14.8% | 16.9% | 18.7% | 15.6% | 12.5% |
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.