Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44% | 34.1% | 36.4% | 28.9% | 24.9% | 28.6% | 25.6% | 24.1% |
| EBITDA margin % | 19.4% | -9.7% | 7.2% | 14.3% | 13% | 14.4% | 14.5% | 14.3% |
| EBIT margin % | 23.7% | -18.4% | 2.4% | 9.3% | 9.9% | 11.2% | 12.4% | 12.3% |
| PAT margin % | 14.3% | -5.5% | 2.9% | 6% | 6.1% | 7.5% | 7.7% | 7.8% |
| Working capital | ||||||||
| Receivable days | — | — | 342 | 225 | 211 | 162 | 140 | 156 |
| Inventory days | — | — | 127 | 51 | 63 | 96 | 79 | 51 |
| Payable days | — | — | 284 | 235 | 195 | 172 | 181 | 153 |
| NWC days | — | — | 185 | 40 | 79 | 86 | 38 | 54 |
| Leverage | ||||||||
| Current ratio | — | — | 3.2 | 2.37 | 1.72 | 1.88 | 1.64 | 1.58 |
| Debt to EBITDA | — | — | 0.4 | 0.79 | 0.95 | 0.73 | 0.98 | 1.15 |
| Debt to equity | — | — | 0.01 | 0.09 | 0.16 | 0.13 | 0.24 | 0.31 |
| Interest coverage | 4.7 | -0.9 | 2.4 | 6.8 | 3.8 | 3.3 | 4.6 | 4.9 |
| Asset turnover | — | 0.66 | 0.3 | 0.5 | 0.7 | 0.73 | 0.83 | 0.9 |
| Return ratios | ||||||||
| Return on assets % | — | -3.6% | 0.9% | 3% | 4.3% | 5.5% | 6.4% | 7% |
| Return on capital employed % | — | — | 2.4% | 7.8% | 13.5% | 15.1% | 21.2% | 22.1% |
| Return on equity % | — | — | 1.1% | 4.5% | 8% | 9.5% | 13.3% | 14.6% |
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.