Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 58.7% | 58.4% | 63.2% | 56.4% | 57.4% | 58.2% | 61.5% | 65.6% |
| EBITDA margin % | 12.4% | 11.7% | 11.7% | 7.9% | 8.4% | 8.3% | 8.2% | 8.3% |
| EBIT margin % | 10.5% | 9% | 8.8% | 5.5% | 6% | 5.9% | 6% | 6.4% |
| PAT margin % | 4.5% | 3.1% | 5.1% | 3.6% | 2.7% | 2.6% | 2.5% | 3.8% |
| Working capital | ||||||||
| Receivable days | 146 | 138 | 141 | 113 | 117 | 108 | 128 | 113 |
| Inventory days | 91 | 84 | 82 | 62 | 64 | 60 | 61 | 69 |
| Payable days | 4 | 7 | 287 | 241 | 257 | 260 | 280 | 276 |
| NWC days | 234 | 215 | -63 | -66 | -75 | -92 | -92 | -94 |
| Leverage | ||||||||
| Current ratio | 1.37 | 1.26 | 1.31 | 1.3 | 1.21 | 1.2 | 1.23 | 1.23 |
| Debt to EBITDA | 1.75 | 1.97 | 2.09 | 3.17 | 2.69 | 2.4 | 2.28 | 1.48 |
| Debt to equity | 0.76 | 0.87 | 0.84 | 0.87 | 0.78 | 0.76 | 0.64 | 0.43 |
| Interest coverage | 2.9 | 2.3 | 2.8 | 2.3 | 2.2 | 2.4 | 2.4 | 3.7 |
| Asset turnover | 0.77 | 0.8 | 0.84 | 0.86 | 0.84 | 0.89 | 0.87 | 0.98 |
| Return ratios | ||||||||
| Return on assets % | 3.4% | 2.5% | 4.3% | 3.1% | 2.2% | 2.3% | 2.2% | 3.7% |
| Return on capital employed % | 17.1% | 15.9% | 16.6% | 12.3% | 13.5% | 16.1% | 16.8% | 20.3% |
| Return on equity % | 15.6% | 11.6% | 17.7% | 12.5% | 9.2% | 10% | 8.7% | 13.3% |
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.