Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 90.9% | 56.3% | 57.4% | 62% | ||||
| 48.1% |
| 53.4% |
| 55.8% |
| 54.1% |
| EBITDA margin % | 14.7% | 15.4% | 19.5% | 20.6% | 9% | 8.3% | 9.1% | 6.1% |
| EBIT margin % | 13.8% | 14.4% | 18.6% | 19.8% | 8.2% | 7.4% | 8.2% | 5.1% |
| PAT margin % | 8.2% | 10.2% | 13.8% | 14.7% | 5.8% | 5.4% | 6.4% | 3.6% |
| Working capital | ||||||||
| Receivable days | 111 | — | 86 | 103 | 123 | 114 | 128 | 140 |
| Inventory days | 844 | — | 209 | 349 | 202 | 217 | 265 | 270 |
| Payable days | — | — | 123 | 121 | 96 | 113 | 138 | 147 |
| NWC days | — | — | 172 | 331 | 228 | 217 | 254 | 263 |
| Leverage | ||||||||
| Current ratio | 1.77 | — | 2.81 | 2.59 | 2.87 | 3.03 | 2.69 | 2.18 |
| Debt to EBITDA | 1 | — | 0.32 | 0.7 | 1.12 | 0.98 | 1.22 | 3.24 |
| Debt to equity | 0.43 | — | 0.12 | 0.25 | 0.17 | 0.12 | 0.17 | 0.32 |
| Interest coverage | 7.4 | 12.8 | 29.5 | 29.5 | 8.7 | 9.4 | 11.6 | 4.8 |
| Asset turnover | 1.51 | — | 1.31 | 1.14 | 1.12 | 1.06 | 1.01 | 0.95 |
| Return ratios | ||||||||
| Return on assets % | 12.3% | — | 18.1% | 16.8% | 6.5% | 5.7% | 6.4% | 3.4% |
| Return on capital employed % | 46.3% | — | 36.1% | 39.6% | 15% | 12.5% | 14.4% | 10% |
| Return on equity % | 24% | — | 26.8% | 25.8% | 9.5% | 8% | 9.5% | 5.8% |
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.