Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 59.8% | 47.6% | 52.6% | 52.2% | 50.4% | 52.6% | 52% |
| EBITDA margin % | — | 18% | 6.2% | 16.5% | 19.5% | 20.6% | 19% | 19.6% |
| EBIT margin % | — | 16.4% | 4% | 15.3% | 18.4% | 19.4% | 15.8% | 16% |
| PAT margin % | 16% | 13.8% | 6.5% | 13.4% | 15.3% | 18% | 14.9% | 12.6% |
| Working capital | ||||||||
| Receivable days | 129 | 118 | 158 | 103 | 80 | 86 | 114 | 97 |
| Inventory days | — | 154 | 116 | 143 | 162 | 70 | 173 | 161 |
| Payable days | — | — | 84 | 68 | 47 | 37 | 83 | 57 |
| NWC days | — | — | 190 | 178 | 195 | 119 | 204 | 201 |
| Leverage | ||||||||
| Current ratio | 1.98 | 2.69 | 3.18 | 2.37 | 2.56 | 4.79 | 2.46 | 3.43 |
| Debt to EBITDA | — | 0.93 | 2.49 | 0.77 | 0.33 | 0.01 | 0.57 | 0.2 |
| Debt to equity | 0.22 | 0.2 | 0.11 | 0.16 | 0.09 | 0 | 0.13 | 0.05 |
| Interest coverage | 3.2 | 11.9 | 4.3 | 24.3 | 25.6 | 46.8 | 20.5 | 15 |
| Asset turnover | 0.78 | 0.83 | 0.52 | 0.82 | 0.95 | 1.03 | 0.7 | 0.81 |
| Return ratios | ||||||||
| Return on assets % | 12.4% | 11.5% | 3.4% | 11% | 14.6% | 18.4% | 10.5% | 10.2% |
| Return on capital employed % | 5.2% | 23.4% | 6.5% | 23.9% | 31.4% | 32.5% | 23.4% | 18.9% |
| Return on equity % | 18.7% | 16.4% | 4.6% | 17.1% | 21.8% | 22.8% | 18.2% | 16.2% |
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.