Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.9% | 32.5% | 39.5% | 29.5% | 24.6% | 30.4% | 30.9% | 30.2% |
| EBITDA margin % | 17.5% | 14.3% | 19.5% | 14.7% | 12.7% | 16.2% | 15.9% | 12.7% |
| EBIT margin % | 15.6% | 11.5% | 15.3% | 12% | 10.3% | 12.8% | 11.8% | 8.2% |
| PAT margin % | 10.8% | 8.9% | 11.8% | 9.6% | 7.7% | 7.7% | 5.2% | 2.4% |
| Working capital | ||||||||
| Receivable days | 68 | 66 | 97 | 91 | 70 | 97 | 78 | 62 |
| Inventory days | 73 | 54 | 101 | 70 | 48 | 82 | 80 | 65 |
| Payable days | 81 | 70 | 134 | 106 | 80 | 147 | 100 | 92 |
| NWC days | 60 | 51 | 64 | 55 | 38 | 32 | 57 | 35 |
| Leverage | ||||||||
| Current ratio | 1.18 | 1.11 | 1.34 | 1.44 | 1.09 | 1.07 | 0.96 | 0.83 |
| Debt to EBITDA | 1.18 | 1.17 | 1.17 | 1.05 | 1.29 | 4.65 | 4.02 | 4.63 |
| Debt to equity | 0.44 | 0.32 | 0.31 | 0.26 | 0.33 | 1.48 | 1.46 | 1.2 |
| Interest coverage | 15.5 | 8.7 | 12.6 | 19.3 | 11.9 | 4.7 | 2.3 | 1.7 |
| Asset turnover | 1.04 | 0.98 | 0.71 | 0.93 | 1.06 | 0.57 | 0.72 | 0.73 |
| Return ratios | ||||||||
| Return on assets % | 11.3% | 8.7% | 8.4% | 8.9% | 8.1% | 4.3% | 3.7% | 1.8% |
| Return on capital employed % | 28.7% | 17.9% | 17.3% | 19.2% | 18.7% | 14.7% | 13.1% | 9.1% |
| Return on equity % | 23.2% | 16.9% | 16.2% | 16.3% | 15.6% | 15.1% | 11.8% | 4.9% |
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.