Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 42.2% | 42.9% | 43.2% | 42.2% | 42.4% | 44.9% | 46.3% | 46.2% |
| EBITDA margin % | 8.4% | 8.2% | 7.6% | 7% | 7.9% | 9.4% | 9.3% | 9.4% |
| EBIT margin % | 5.2% | 3.8% | 2.5% | 2.4% | 3.9% | 5.5% | 5.3% | 5.4% |
| PAT margin % | 3.3% | 2% | 2.7% | 1.9% | 2.1% | 3.1% | 3.7% | 3.2% |
| Working capital | ||||||||
| Receivable days | 42 | 38 | 36 | 38 | 39 | 58 | 56 | 58 |
| Inventory days | 46 | 52 | 56 | 64 | 63 | 61 | 64 | 68 |
| Payable days | 106 | 104 | 125 | 113 | 114 | 152 | 142 | 152 |
| NWC days | -17 | -14 | -33 | -11 | -11 | -33 | -21 | -26 |
| Leverage | ||||||||
| Current ratio | 1.06 | 0.99 | 1 | 1.01 | 0.97 | 0.97 | 1.04 | 1.06 |
| Debt to EBITDA | 2.05 | 2.24 | 2.45 | 2.86 | 1.96 | 1.87 | 1.63 | 1.34 |
| Debt to equity | 1.03 | 1.09 | 0.85 | 0.62 | 0.54 | 0.66 | 0.49 | 0.39 |
| Interest coverage | 8.3 | 4.4 | 3.2 | 3.7 | 4.3 | 3.1 | 3.5 | 4.4 |
| Asset turnover | 1.47 | 1.4 | 1.19 | 1.13 | 1.27 | 1.16 | 1.22 | 1.14 |
| Return ratios | ||||||||
| Return on assets % | 4.8% | 2.8% | 3.3% | 2.1% | 2.7% | 3.6% | 4.5% | 3.7% |
| Return on capital employed % | 15.1% | 10.5% | 6.2% | 6.5% | 9.7% | 14.6% | 14.1% | 12.6% |
| Return on equity % | 19.8% | 12.1% | 12.5% | 5.7% | 7.4% | 11.5% | 11.9% | 10% |
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.