Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 55.7% | 54.9% | 55.4% | 56.5% | 59.1% | 50.5% | 53.2% | 45.1% |
| EBIT margin % | 37.2% | 38.8% | 42% | 43.5% | 47.6% | 38.2% | 41.7% | 28.1% |
| PAT margin % | 31.6% | 33.2% | 37.1% | 41.1% | 39.9% | 41.8% | 32.9% | 36.3% |
| Working capital | ||||||||
| Receivable days | — | — | 194 | 206 | 212 | 167 | 169 | 83 |
| Inventory days | — | — | 11 | 13 | 14 | 15 | 19 | 17 |
| Payable days | — | — | 18 | 20 | 20 | 22 | 24 | 22 |
| NWC days | — | — | 188 | 199 | 206 | 160 | 164 | 77 |
| Leverage | ||||||||
| Current ratio | — | — | 1.51 | 1.34 | 1.36 | 1.13 | 1.11 | 1.04 |
| Debt to EBITDA | — | — | 4.37 | 5.03 | 4.7 | 6.67 | 7.14 | 9.96 |
| Debt to equity | — | — | 0.71 | 0.75 | 0.8 | 0.84 | 0.99 | 1.26 |
| Interest coverage | 4.7 | 5.8 | 7.9 | 9.3 | 12.1 | 12.5 | 4.8 | 3 |
| Asset turnover | — | — | 0.13 | 0.12 | 0.12 | 0.1 | 0.1 | 0.1 |
| Return ratios | ||||||||
| Return on assets % | — | — | 4.9% | 4.9% | 4.9% | 4.3% | 3.3% | 3.5% |
| Return on capital employed % | — | — | 7.6% | 7.2% | 7.7% | 6.2% | 6.4% | 4.4% |
| Return on equity % | — | — | 10.8% | 10.8% | 11.5% | 10.4% | 8.6% | 10.2% |
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.