Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 72.2% | 70.7% | 71.8% | 69.2% | 72.9% | 64.9% | 78.5% |
| EBITDA margin % | 14.9% | 20.4% | 12.6% | 9.2% | 11% | 7.7% | 13.4% |
| EBIT margin % | 10.4% | 17.2% | 9.8% | 6.1% | 8% | 3.7% | 9.5% |
| PAT margin % | 5.4% | 10.5% | 5.8% | 2.8% | 5% | 1.8% | 6.7% |
| Working capital | |||||||
| Receivable days | 56 | 42 | 38 | 35 | 28 | 35 | 30 |
| Inventory days | 154 | 94 | 102 | 110 | 128 | 183 | 177 |
| Payable days | 0 | 0 | 0 | 66 | 67 | 111 | 75 |
| NWC days | 210 | 137 | 140 | 79 | 88 | 106 | 132 |
| Leverage | |||||||
| Current ratio | — | — | — | 1.28 | 1.34 | 1.14 | 1.13 |
| Debt to EBITDA | 2.06 | 0.95 | 1.63 | 1.98 | 1.05 | 2.28 | 1.25 |
| Debt to equity | 0.54 | 0.4 | 0.45 | 0.38 | 0.26 | 0.29 | 0.25 |
| Interest coverage | 3.3 | 11.8 | 7.1 | 4.5 | 7.4 | 3.5 | 8.7 |
| Asset turnover | 0.81 | 1.07 | 1.11 | 1.06 | 1.22 | 0.86 | 0.9 |
| Return ratios | |||||||
| Return on assets % | 4.4% | 11.2% | 6.4% | 2.9% | 6.1% | 1.5% | 6.1% |
| Return on capital employed % | — | — | — | 9.9% | 14.1% | 6% | 13.3% |
| Return on equity % | 9.6% | 21.9% | 12.7% | 5.8% | 11% | 2.9% | 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.