Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 83.3% | 74% | 77.8% | 81.3% | 58.2% | 59.9% | 56.9% |
| EBITDA margin % | 25.8% | 27.7% | 30.2% | 30.5% | 29.5% | 18.1% | 20.3% | 19.7% |
| EBIT margin % | 22.6% | 24.1% | 26.8% | 26.7% | 23.5% | 12.6% | 14.4% | 14.2% |
| PAT margin % | 18.4% | 22.2% | 20.5% | 20.6% | 17.9% | 8.6% | 10.3% | 10.9% |
| Working capital | ||||||||
| Receivable days | 181 | — | 173 | 130 | 132 | 110 | 139 | 167 |
| Inventory days | 352 | — | 1,381 | 2,088 | 2,745 | 1,066 | 1,086 | 935 |
| Payable days | 89 | — | 148 | 336 | 357 | 98 | 79 | 80 |
| NWC days | 444 | — | 1,407 | 1,882 | 2,520 | 1,078 | 1,146 | 1,022 |
| Leverage | ||||||||
| Current ratio | 2.19 | — | 2.26 | 2.09 | 2.18 | 2.28 | 2.61 | 2.52 |
| Debt to EBITDA | 0.58 | — | 0.65 | 1.02 | 1.5 | 1.67 | 1.07 | 1.2 |
| Debt to equity | 0.13 | — | 0.15 | 0.22 | 0.3 | 0.25 | 0.17 | 0.19 |
| Interest coverage | 31 | 35.1 | 19.8 | 12.1 | 9.4 | 4.8 | 6.3 | 8.3 |
| Asset turnover | 0.39 | 1.58 | 0.33 | 0.31 | 0.3 | 0.37 | 0.37 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | 7.2% | 35.1% | 6.8% | 6.4% | 5.5% | 3.2% | 3.8% | 4.1% |
| Return on capital employed % | 15.3% | — | 13.1% | 13.7% | 12% | 7.9% | 8.5% | 9.1% |
| Return on equity % | 15.6% | — | 15.5% | 14.8% | 12.2% | 7% | 7.8% | 8.6% |
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.