Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.9% | 41.6% | 38.6% | 43.2% | 34.9% | 34.6% | 35.7% | 35.6% |
| EBITDA margin % | 12.9% | 13% | 16.6% | 18.3% | 9.4% | 12.1% | 11.6% | 9.1% |
| EBIT margin % | 10.5% | 10.3% | 14.6% | 16% | 7.1% | 10% | 9.1% | 6.5% |
| PAT margin % | 6.7% | 5.9% | 12.5% | 12.8% | 4.9% | 8.3% | 6.1% | 3.8% |
| Working capital | ||||||||
| Receivable days | 88 | 94 | 89 | 97 | 108 | 126 | 125 | 141 |
| Inventory days | 129 | 154 | 121 | 202 | 133 | 126 | 153 | 137 |
| Payable days | 90 | 2 | 104 | 84 | 89 | 103 | 108 | 131 |
| NWC days | 127 | 246 | 106 | 215 | 152 | 149 | 170 | 146 |
| Leverage | ||||||||
| Current ratio | 1.54 | 1.59 | 1.72 | 2.74 | 2.26 | 2.08 | 2.02 | 1.51 |
| Debt to EBITDA | 1.87 | 1.67 | 0.79 | 0.83 | 1.45 | 1.33 | 2.03 | 2.46 |
| Debt to equity | 0.51 | 0.41 | 0.26 | 0.17 | 0.17 | 0.2 | 0.29 | 0.29 |
| Interest coverage | 4.5 | 4.2 | 14.4 | 17 | 6.9 | 8.9 | 6.6 | 4.3 |
| Asset turnover | 1.02 | 0.97 | 1.12 | 0.78 | 0.85 | 0.83 | 0.75 | 0.75 |
| Return ratios | ||||||||
| Return on assets % | 6.8% | 5.7% | 14% | 10% | 4.2% | 6.9% | 4.6% | 2.8% |
| Return on capital employed % | 20.5% | 16.8% | 35.1% | 23.5% | 9% | 15.3% | 11% | 7.8% |
| Return on equity % | 14.3% | 11.1% | 25.1% | 14.3% | 6.2% | 10.4% | 7.4% | 4.9% |
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.