Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 53.9% | 53.9% | 55.1% | 53.2% | 54.1% | 56.6% | 55.2% |
| EBITDA margin % | 17.2% | 17.1% | 17.1% | 18.7% | 18.7% | 19.4% | 17.6% |
| EBIT margin % | 9.4% | 8.6% | 11.1% | 13.3% | 13.4% | 13.3% | 11.1% |
| PAT margin % | 5.5% | 6.3% | 9.9% | 8.8% | 8.6% | 8% | 6.2% |
| Working capital | |||||||
| Receivable days | — | 65 | 56 | 50 | 64 | 89 | 105 |
| Inventory days | — | 190 | 147 | 168 | 176 | 188 | 171 |
| Payable days | — | 126 | 93 | 91 | 81 | 98 | 116 |
| NWC days | — | 130 | 111 | 128 | 159 | 180 | 160 |
| Leverage | |||||||
| Current ratio | — | 1.17 | 1.3 | 1.2 | 1.17 | 1.22 | 1.18 |
| Debt to EBITDA | — | 4.18 | 3.1 | 2.4 | 2.74 | 3.55 | 3.84 |
| Debt to equity | — | 1.09 | 1.06 | 0.97 | 1.02 | 1.18 | 1.1 |
| Interest coverage | 2.4 | 2.6 | 5.6 | 7 | 5.4 | 3.8 | 2.5 |
| Asset turnover | — | 0.59 | 0.79 | 0.88 | 0.8 | 0.64 | 0.63 |
| Return ratios | |||||||
| Return on assets % | — | 3.7% | 7.8% | 7.7% | 6.9% | 5.1% | 3.9% |
| Return on capital employed % | — | 10% | 17.7% | 20.8% | 20.4% | 16.1% | 12% |
| Return on equity % | — | 9.6% | 19.8% | 19% | 17.1% | 13.7% | 10.1% |
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.