Consolidated figures
| Ratio | Mar 2017 | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 27.9% | 30.7% | 27.2% | 28.9% | 41.1% | 24.3% | 25.1% | 24.2% |
| EBITDA margin % | 15% | 14.4% | 16.3% | 14.3% | 17.5% | 7.7% | 12.7% | 11.6% |
| EBIT margin % | 12.6% | 12.5% | 14.8% | 11.9% | 14.5% | 5.6% | 11.1% | 10.2% |
| PAT margin % | 7.4% | 8.8% | 9.1% | 7% | 9% | 1% | 5.7% | 4.9% |
| Working capital | ||||||||
| Receivable days | 102 | 108 | 87 | 98 | 105 | 78 | 91 | 87 |
| Inventory days | 150 | 197 | 172 | 161 | 396 | 274 | 188 | 214 |
| Payable days | 80 | 131 | 56 | 72 | 101 | 38 | 29 | 35 |
| NWC days | 172 | 175 | 203 | 187 | 400 | 314 | 250 | 266 |
| Leverage | ||||||||
| Current ratio | 1.52 | 1.55 | 1.33 | 1.49 | 1.72 | 1.38 | 2.07 | 1.88 |
| Debt to EBITDA | 5.45 | 6.49 | 4.29 | 5.03 | 5.66 | 11.45 | 4.14 | 3.79 |
| Debt to equity | 2.65 | 2.94 | 2.47 | 1.76 | 1.64 | 2.66 | 0.96 | 0.77 |
| Interest coverage | 4.5 | 7 | 4.2 | 3.5 | 4.3 | 1.3 | 2.8 | 3 |
| Asset turnover | 0.71 | 0.62 | 0.85 | 0.72 | 0.51 | 0.68 | 0.81 | 0.85 |
| Return ratios | ||||||||
| Return on assets % | 5.3% | 5.4% | 7.7% | 5% | 4.6% | 0.7% | 4.6% | 4.1% |
| Return on capital employed % | 18.3% | 18.1% | 28.2% | 16.2% | 13.5% | 8.7% | 18.8% | 16.2% |
| Return on equity % | 24% | 27.6% | 32.1% | 17.1% | 14.9% | 3% | 10.5% | 8.4% |
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.