Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.3% | 64.7% | 64.6% | 60.5% | 59.3% | 66.8% | 69.9% | 73.8% |
| EBITDA margin % | 15.5% | 15.3% | 16.9% | 1.8% | 10.8% | 19% | 23.3% | 31.5% |
| EBIT margin % | 8.8% | 9% | 11.1% | -8.4% | 5.5% | 13.1% | 18.1% | 26.6% |
| PAT margin % | 3.8% | -1.8% | 8.1% | -9.2% | 2.7% | 9.7% | 14.6% | 19.2% |
| Working capital | ||||||||
| Receivable days | 115 | 129 | 108 | 95 | 98 | 86 | 88 | 86 |
| Inventory days | 240 | 232 | 279 | 261 | 242 | 272 | 292 | 303 |
| Payable days | 156 | 162 | 137 | 129 | 136 | 163 | 158 | 208 |
| NWC days | 198 | 199 | 249 | 227 | 204 | 195 | 223 | 181 |
| Leverage | ||||||||
| Current ratio | 2.26 | 1.67 | 1.66 | 1.51 | 1.34 | 1.58 | 1.87 | 1.9 |
| Debt to EBITDA | — | — | 1.86 | 13.38 | 2.36 | 0.7 | 0.96 | 0.67 |
| Debt to equity | — | — | 0.35 | 0.32 | 0.34 | 0.19 | 0.3 | 0.26 |
| Interest coverage | 7 | 5.1 | 12.9 | -8.6 | 3.6 | 8.8 | 14.6 | 18.1 |
| Asset turnover | 0.59 | 0.62 | 0.64 | 0.75 | 0.72 | 0.83 | 0.78 | 0.73 |
| Return ratios | ||||||||
| Return on assets % | 2.2% | -1.1% | 5.2% | -6.9% | 2% | 8.1% | 11.3% | 14% |
| Return on capital employed % | 10% | 9.9% | 11.7% | -8.6% | 7.3% | 18.7% | 24.1% | 34.2% |
| Return on equity % | 4.5% | -2.2% | 8.9% | -12.4% | 3.6% | 13.5% | 19.2% | 23.9% |
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.