Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 84.3% | 84.7% | 86.2% | 85.1% | 88.4% | 86.4% | 80.7% |
| EBITDA margin % | 32.5% | 33.4% | 28.5% | 34.8% | 36.1% | 27.2% | 31.7% | 32% |
| EBIT margin % | 21.6% | 20.5% | 12.4% | 18.9% | 25% | 13.2% | 19.3% | 18.4% |
| PAT margin % | 13.6% | 14.1% | 13.7% | 9.3% | 8.8% | 14.4% | 17.8% | 21.6% |
| Working capital | ||||||||
| Receivable days | — | — | 279 | 113 | 96 | 106 | 75 | 70 |
| Inventory days | — | — | 394 | 265 | 179 | 360 | 335 | 247 |
| Payable days | — | — | 459 | 335 | 301 | 368 | 332 | 146 |
| NWC days | — | — | 214 | 43 | -25 | 98 | 78 | 171 |
| Leverage | ||||||||
| Current ratio | — | — | 1.04 | 1.22 | 1.35 | 1.15 | 0.75 | 0.8 |
| Debt to EBITDA | — | — | 9.7 | 5.3 | 3.82 | 6.33 | 4.63 | 4.97 |
| Debt to equity | — | — | 2.02 | 1.55 | 1.47 | 1.35 | 1.2 | 1.29 |
| Interest coverage | 4.5 | 2.9 | 2.4 | 2.9 | 5.2 | 3.1 | 4.9 | 3.4 |
| Asset turnover | — | — | 0.18 | 0.24 | 0.3 | 0.24 | 0.26 | 0.27 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2.5% | 2.2% | 2.7% | 3.4% | 4.7% | 5.8% |
| Return on capital employed % | — | — | 7.7% | 6.7% | 11.8% | 5.7% | 9.7% | 8.2% |
| Return on equity % | — | — | 10% | 7.9% | 9.4% | 11.3% | 14.5% | 17.5% |
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.