Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 47.6% | 46.6% | 45% | 47.6% | 50.4% | 51.1% | 50.6% |
| EBITDA margin % | 6.6% | 8.9% | 6.7% | 10.7% | 13% | 13.6% | 12% |
| EBIT margin % | 4.3% | 6.4% | 4.5% | 8.9% | 11% | 11.6% | 9.8% |
| PAT margin % | 2.3% | 5.9% | 3.1% | 6.3% | 8.7% | 9.3% | 8.3% |
| Working capital | |||||||
| Receivable days | 65 | 62 | 63 | 48 | 48 | 40 | 53 |
| Inventory days | 137 | 152 | 140 | 133 | 157 | 142 | 142 |
| Payable days | — | 138 | 128 | 115 | 122 | 100 | 128 |
| NWC days | — | 76 | 75 | 66 | 83 | 82 | 68 |
| Leverage | |||||||
| Current ratio | 1.19 | 1.28 | 1.41 | 1.55 | 1.7 | 1.85 | 1.83 |
| Debt to EBITDA | 2.66 | 1.25 | 1.82 | 0.63 | 0.3 | 0.22 | 0.34 |
| Debt to equity | 0.58 | 0.27 | 0.32 | 0.18 | 0.09 | 0.06 | 0.08 |
| Interest coverage | 3.3 | 5.1 | 5 | 10.1 | 19.4 | 23.9 | 17.3 |
| Asset turnover | 1.1 | 1 | 1.06 | 1.24 | 1.2 | 1.23 | 1.03 |
| Return ratios | |||||||
| Return on assets % | 2.5% | 5.9% | 3.3% | 7.8% | 10.5% | 11.4% | 8.6% |
| Return on capital employed % | 15.1% | 18.9% | 12.6% | 23.3% | 28.1% | 28% | 20.8% |
| Return on equity % | 7.6% | 14.5% | 8% | 16.8% | 20.3% | 20% | 15.3% |
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.