Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 68.5% | 69.5% | 70.3% | 63.8% | 58.1% | 64.1% | 66.8% | 71.6% |
| EBITDA margin % | 31% | 33.2% | 27.7% | 26.8% | 23.3% | 30.5% | 35% | 29.3% |
| EBIT margin % | 25.4% | 27.3% | 20.5% | 20.8% | 17.6% | 24.3% | 30.3% | 20.8% |
| PAT margin % | 17.5% | 18% | 9.6% | 12% | 9% | 12.7% | 20.2% | 14.1% |
| Working capital | ||||||||
| Receivable days | 54 | 31 | 54 | 80 | 55 | 64 | 73 | 92 |
| Inventory days | 251 | 272 | 463 | 285 | 218 | 242 | 185 | 319 |
| Payable days | 0 | 0 | 192 | 167 | 71 | 110 | 105 | 112 |
| NWC days | 304 | 303 | 324 | 198 | 202 | 195 | 153 | 299 |
| Leverage | ||||||||
| Current ratio | 1.28 | 1.13 | 1.01 | 1.27 | 1.64 | 1.96 | 1.93 | 1.32 |
| Debt to EBITDA | 1.45 | 2.1 | 3.75 | 2.93 | 2.7 | 1.85 | 1 | 2.54 |
| Debt to equity | 0.77 | 0.81 | 0.84 | 1.15 | 0.9 | 0.66 | 0.42 | 0.5 |
| Interest coverage | 5 | 5.1 | 3.1 | 3.8 | 2.9 | 4.6 | 8.2 | 4.7 |
| Asset turnover | 0.77 | 0.43 | 0.29 | 0.55 | 0.66 | 0.57 | 0.66 | 0.35 |
| Return ratios | ||||||||
| Return on assets % | 13.4% | 7.7% | 2.8% | 6.7% | 6% | 7.2% | 13.4% | 5% |
| Return on capital employed % | 31.8% | 18.9% | 8.5% | 16.7% | 16% | 18.9% | 28.4% | 11.5% |
| Return on equity % | 29.8% | 20.9% | 7.7% | 17.7% | 13% | 14.7% | 24.1% | 9.4% |
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.