Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 15.9% | 14.1% | 22.6% | 22.2% | 21.8% | 16.6% | 16.3% | 17.3% |
| EBITDA margin % | 7.9% | 5.4% | 13.2% | 13.9% | 13.7% | 10.8% | 8.8% | 9% |
| EBIT margin % | 7.4% | 4.6% | 12.7% | 13.5% | 13.3% | 10.4% | 8.4% | 8.5% |
| PAT margin % | 4.1% | 2.9% | 9.4% | 10.8% | 10.4% | 8.3% | 6.7% | 6.9% |
| Working capital | ||||||||
| Receivable days | 90 | 91 | 82 | 54 | 57 | 63 | 66 | 68 |
| Inventory days | 131 | 108 | 119 | 108 | 67 | 91 | 64 | 96 |
| Payable days | 108 | 109 | 107 | 94 | 54 | 45 | 33 | 42 |
| NWC days | 114 | 90 | 94 | 68 | 70 | 109 | 97 | 122 |
| Leverage | ||||||||
| Current ratio | 1.5 | 1.8 | 1.86 | 2.13 | 3.56 | 3.81 | 5.18 | 3.69 |
| Debt to EBITDA | 1.6 | 0.93 | 0.34 | 0.1 | 0 | 0.1 | 0.01 | 0.28 |
| Debt to equity | 0.39 | 0.11 | 0.12 | 0.04 | 0 | 0.02 | 0 | 0.05 |
| Interest coverage | 3.8 | 2.8 | 21.1 | 41.5 | 26.5 | 14.4 | 13.6 | 23 |
| Asset turnover | 1.38 | 1.32 | 1.46 | 1.7 | 1.82 | 1.67 | 1.83 | 1.6 |
| Return ratios | ||||||||
| Return on assets % | 5.6% | 3.8% | 13.6% | 18.4% | 18.9% | 13.8% | 12.3% | 11.1% |
| Return on capital employed % | 24.1% | 11.5% | 37.2% | 43.5% | 35.2% | 24.9% | 20.4% | 19.5% |
| Return on equity % | 12.5% | 6.6% | 24.1% | 30% | 24.5% | 17.7% | 14.9% | 14.5% |
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.