Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 66.3% | 71.6% | 78.8% | 72.8% | 72.8% | 54.3% | 69.3% | 66.7% |
| EBITDA margin % | 42.8% | 39.1% | 42% | 39.4% | 44.4% | 45% | 46.1% | 40% |
| EBIT margin % | 33.4% | 28.6% | 30.2% | 30.6% | 35.8% | 36.7% | 37.2% | 30.9% |
| PAT margin % | 15% | 19.2% | 21.6% | 17.1% | 34.6% | 32.9% | 36% | 24.2% |
| Working capital | ||||||||
| Receivable days | 162 | 290 | 131 | 117 | 242 | 169 | 129 | 81 |
| Inventory days | 146 | 185 | 199 | 148 | 262 | 126 | 244 | 170 |
| Payable days | 49 | 49 | 49 | 34 | 59 | 35 | 50 | 73 |
| NWC days | 259 | 426 | 281 | 231 | 444 | 260 | 323 | 178 |
| Leverage | ||||||||
| Current ratio | 2.01 | 1.93 | 1.13 | 1.11 | 2.16 | 5.01 | 5.95 | 7.62 |
| Debt to EBITDA | 2.21 | 2.55 | 3.17 | 2.71 | 1.96 | 0.24 | 0.48 | 1.29 |
| Debt to equity | 0.8 | 0.66 | 0.77 | 0.72 | 0.51 | 0.06 | 0.12 | 0.25 |
| Interest coverage | 3.2 | 2.9 | 2.9 | 3.9 | 4.2 | 5.6 | 63.2 | 126.9 |
| Asset turnover | 0.35 | 0.28 | 0.26 | 0.31 | 0.32 | 0.39 | 0.35 | 0.3 |
| Return ratios | ||||||||
| Return on assets % | 5.2% | 5.4% | 5.6% | 5.3% | 10.9% | 13% | 12.7% | 7.2% |
| Return on capital employed % | 14.5% | 11.5% | 12.6% | 16% | 18.8% | 16.8% | 16.7% | 12.5% |
| Return on equity % | 12.6% | 12.7% | 12.5% | 11.6% | 20.3% | 18.2% | 18.8% | 11.9% |
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.