Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.7% | 97.9% | 83% | 82.1% | 80.3% | 79.6% | 79.3% | 82.1% |
| EBITDA margin % | 29.4% | 26.4% | 25.3% | 35% | 37.2% | 34.4% | 31% | 28.2% |
| EBIT margin % | 29.4% | 13.8% | 17.1% | 28.9% | 32.5% | 28.6% | 24.6% | 20.9% |
| PAT margin % | 23.5% | 31.4% | 18.4% | 22.4% | 24% | 19.2% | 19.5% | 20.4% |
| Working capital | ||||||||
| Receivable days | 35 | — | 30 | 21 | 21 | 34 | 33 | 45 |
| Inventory days | 2,446 | — | 307 | 265 | 231 | 221 | 246 | 301 |
| Payable days | — | — | 132 | 115 | 83 | 84 | 112 | 184 |
| NWC days | — | — | 206 | 172 | 169 | 170 | 166 | 161 |
| Leverage | ||||||||
| Current ratio | 1.45 | — | 0.98 | 1.49 | 1.66 | 1.17 | 1.23 | 1.09 |
| Debt to EBITDA | 2.66 | — | 3.4 | 1.57 | 1.21 | 1.89 | 2.66 | 3.44 |
| Debt to equity | 0.37 | — | 0.82 | 0.54 | 0.48 | 0.49 | 0.6 | 0.62 |
| Interest coverage | 8.3 | 4.4 | 7.5 | 10.4 | 15.6 | 12.2 | 9.9 | 8 |
| Asset turnover | 0.26 | — | 0.41 | 0.49 | 0.56 | 0.39 | 0.35 | 0.3 |
| Return ratios | ||||||||
| Return on assets % | 6.2% | — | 7.5% | 11% | 13.3% | 7.6% | 6.7% | 6.1% |
| Return on capital employed % | 11.7% | — | 11.1% | 19.9% | 23.5% | 16.4% | 12.7% | 9.9% |
| Return on equity % | 11.2% | — | 17.5% | 22% | 25.6% | 14.4% | 14.1% | 13% |
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.