Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 79.5% | 76.3% | 76.5% | 79.8% | 79.3% | ||
| 79% |
| 78.6% |
| EBITDA margin % | 8.8% | 16.1% | 24% | 27.2% | 27.6% | 26.3% | 26.8% |
| EBIT margin % | 4.5% | 9.2% | 18.4% | 22.1% | 23.1% | 21.2% | 21.5% |
| PAT margin % | 5.6% | -5.5% | 15.4% | 24.2% | 19.6% | 15.3% | 17.2% |
| Working capital | |||||||
| Receivable days | 33 | 53 | 36 | 27 | 31 | 36 | 42 |
| Inventory days | 45 | 33 | 24 | 30 | 26 | 26 | 23 |
| Payable days | 302 | 268 | 179 | 215 | 221 | 200 | 175 |
| NWC days | -224 | -181 | -119 | -158 | -164 | -138 | -110 |
| Leverage | |||||||
| Current ratio | 2.89 | 1.45 | 1.32 | 1.86 | 1.37 | 0.88 | 0.89 |
| Debt to EBITDA | 8.91 | 2.22 | 0.77 | 0.56 | 0.87 | 1.63 | 1.55 |
| Debt to equity | 0.33 | 0.16 | 0.12 | 0.09 | 0.15 | 0.32 | 0.32 |
| Interest coverage | 1.2 | 1.9 | 8.4 | 13.7 | 23.8 | 10 | 8.3 |
| Asset turnover | 0.27 | 0.29 | 0.43 | 0.45 | 0.45 | 0.46 | 0.49 |
| Return ratios | |||||||
| Return on assets % | 1.5% | -1.6% | 6.6% | 10.9% | 8.8% | 7.1% | 8.4% |
| Return on capital employed % | 3.2% | 6.4% | 10.5% | 13.1% | 14.4% | 13.6% | 13.8% |
| Return on equity % | 2.3% | -2.4% | 9.6% | 14.9% | 12.6% | 11.5% | 13.4% |
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.