Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 36.6% | 37.8% | 34.4% | 37.9% | 40.7% | 43.4% | 42.3% |
| EBITDA margin % | 8.5% | 11.7% | 10.3% | 14.6% | 17.4% | 18.8% | 18.4% |
| EBIT margin % | 5.9% | 9.2% | 7.7% | 12.5% | 15.4% | 16.6% | 16.1% |
| PAT margin % | 5.6% | 6% | 4.3% | 6.6% | 7.5% | 7.5% | 7.3% |
| Working capital | |||||||
| Receivable days | — | 49 | 43 | 138 | 123 | 40 | 45 |
| Inventory days | — | 68 | 54 | 64 | 67 | 60 | 61 |
| Payable days | — | 106 | 80 | 79 | 83 | 72 | 78 |
| NWC days | — | 10 | 17 | 122 | 107 | 28 | 28 |
| Leverage | |||||||
| Current ratio | — | 1.83 | 1.54 | 1.34 | 1.04 | 1.27 | 1.39 |
| Debt to EBITDA | — | 2.17 | 4.75 | 4.42 | 4.03 | 4.89 | 3.75 |
| Debt to equity | — | 0.44 | 0.94 | 1.41 | 1.55 | 1.89 | 1.47 |
| Interest coverage | 17.1 | 6.5 | 3.2 | 3.1 | 2.9 | 2.3 | 2.5 |
| Asset turnover | — | 0.87 | 0.8 | 0.75 | 0.71 | 0.61 | 0.71 |
| Return ratios | |||||||
| Return on assets % | — | 5.2% | 3.4% | 4.9% | 5.3% | 4.5% | 5.2% |
| Return on capital employed % | — | 12.9% | 11.6% | 17.7% | 21% | 18.7% | 18.8% |
| Return on equity % | — | 10.3% | 8.2% | 14.4% | 16.4% | 15.4% | 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.