Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 29.9% | 30% | 23.5% | 20.4% | 22.1% | 22.7% | 20.4% |
| EBITDA margin % | 11.4% | 11.3% | 9.4% | 6.6% | 8% | 9.2% | 7.9% |
| EBIT margin % | 10.1% | 9.3% | 7.9% | 5.3% | 6.6% | 7.8% | 6.5% |
| PAT margin % | 7.7% | 7.6% | 6.5% | 4% | 5.5% | 5.6% | 3.8% |
| Working capital | |||||||
| Receivable days | — | — | — | 30 | 36 | 47 | 39 |
| Inventory days | — | — | — | 73 | 90 | 92 | 88 |
| Payable days | — | — | — | 15 | 20 | 19 | 26 |
| NWC days | — | — | — | 89 | 106 | 121 | 102 |
| Leverage | |||||||
| Current ratio | — | — | — | 1.7 | 1.48 | 1.39 | 1.26 |
| Debt to EBITDA | — | — | — | 1.63 | 2.02 | 2.45 | 2.84 |
| Debt to equity | — | — | — | 0.22 | 0.32 | 0.48 | 0.53 |
| Interest coverage | 11.9 | 13.2 | 9.9 | 6.5 | 5.8 | 5.4 | 4.1 |
| Asset turnover | — | — | — | 1.5 | 1.33 | 1.26 | 1.32 |
| Return ratios | |||||||
| Return on assets % | — | — | — | 6% | 7.3% | 7.1% | 5% |
| Return on capital employed % | — | — | — | 10.5% | 13.3% | 15.9% | 13.9% |
| Return on equity % | — | — | — | 8.3% | 10.9% | 12% | 8.9% |
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.