Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 46.1% | 50.1% | 55.2% | 55.6% | 54.1% | 51.7% | 55.4% | 60.4% |
| EBITDA margin % | 15.5% | 19.9% | 32.2% | 28.8% | 26.4% | 15.4% | 19% | 26.1% |
| EBIT margin % | 8.4% | 13.3% | 28% | 23.7% | 21% | 7.8% | 11.3% | 19% |
| PAT margin % | 4.1% | 9% | 20.4% | 16.9% | 13.1% | 3.2% | 6.5% | 13.1% |
| Working capital | ||||||||
| Receivable days | — | 102 | 99 | 100 | 95 | 120 | 132 | 115 |
| Inventory days | — | 234 | 266 | 293 | 222 | 277 | 285 | 317 |
| Payable days | — | 159 | 199 | 146 | 93 | 158 | 141 | 170 |
| NWC days | — | 177 | 166 | 247 | 224 | 240 | 276 | 263 |
| Leverage | ||||||||
| Current ratio | — | 1.07 | 1.25 | 1.25 | 1.42 | 1.23 | 1.22 | 1.33 |
| Debt to EBITDA | — | 1.69 | 0.94 | 1.22 | 1.24 | 3.22 | 2.55 | 1.35 |
| Debt to equity | — | 0.54 | 0.56 | 0.52 | 0.49 | 0.61 | 0.6 | 0.45 |
| Interest coverage | 2.4 | 4.3 | 20.1 | 11.6 | 7.7 | 2.3 | 3.2 | 7.9 |
| Asset turnover | — | 0.76 | 0.84 | 0.71 | 0.79 | 0.6 | 0.59 | 0.65 |
| Return ratios | ||||||||
| Return on assets % | — | 6.8% | 17.1% | 11.9% | 10.4% | 1.9% | 3.8% | 8.5% |
| Return on capital employed % | — | 18.6% | 51.2% | 31.3% | 26.8% | 8% | 12.7% | 21.3% |
| Return on equity % | — | 14.4% | 37.9% | 24.8% | 19.7% | 3.9% | 8% | 16.8% |
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.