Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 63.2% | 65.9% | 67.9% | 66.3% | 64.6% | 63.5% | 88.8% | 65.1% |
| EBITDA margin % | 11.6% | 11.2% | 11.5% | 11.6% | 11.3% | 10.6% | 10.3% | 10.2% |
| EBIT margin % | 10.1% | 9.5% | 9.4% | 9.8% | 9.4% | 9% | 8.7% | 8.7% |
| PAT margin % | 7.3% | 7.5% | 9.5% | 6.7% | 6.8% | 7% | 6.9% | 6.6% |
| Working capital | ||||||||
| Receivable days | — | — | 113 | 108 | 89 | 81 | 77 | 77 |
| Inventory days | — | — | 49 | 41 | 38 | 30 | 98 | 35 |
| Payable days | — | — | 382 | 356 | 280 | 241 | 668 | 254 |
| NWC days | — | — | -220 | -207 | -152 | -130 | -494 | -142 |
| Leverage | ||||||||
| Current ratio | — | — | 1.42 | 1.3 | 1.36 | 1.23 | 1.21 | 1.25 |
| Debt to EBITDA | — | — | 7.03 | 5.06 | 5.71 | 4.85 | 4.9 | 4.17 |
| Debt to equity | — | — | 1.45 | 1.12 | 1.33 | 1.32 | 1.33 | 1.11 |
| Interest coverage | 8.9 | 5.8 | 4.1 | 5.6 | 6.3 | 6.8 | 7.9 | 10.7 |
| Asset turnover | — | — | 0.44 | 0.49 | 0.55 | 0.65 | 0.67 | 0.63 |
| Return ratios | ||||||||
| Return on assets % | — | — | 4.2% | 3.3% | 3.8% | 4.6% | 4.7% | 4.2% |
| Return on capital employed % | — | — | 9.3% | 10.5% | 12.3% | 14.5% | 15.5% | 15.4% |
| Return on equity % | — | — | 17% | 12.6% | 14% | 18% | 18.1% | 17.3% |
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.