Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 62.7% | 60.1% | 60% | 55.5% | 60.8% | 65.5% | 65.6% |
| EBITDA margin % | 30.6% | 15% | 8.7% | 12.7% | 10.2% | 9.7% | 9.4% | 8.9% |
| EBIT margin % | 19.4% | 3.4% | -2.5% | 2.4% | 3.3% | 1.8% | 2.7% | 3% |
| PAT margin % | 1.2% | 3.4% | -0.1% | 5.1% | 4.3% | 3.9% | 6.3% | 6.6% |
| Working capital | ||||||||
| Receivable days | 74 | 84 | 79 | 67 | 70 | 62 | 69 | 59 |
| Inventory days | 80 | 185 | 160 | 196 | 171 | 130 | 139 | 113 |
| Payable days | 11 | 13 | — | — | 97 | 106 | 116 | 108 |
| NWC days | 144 | 256 | — | — | 144 | 86 | 92 | 64 |
| Leverage | ||||||||
| Current ratio | 2.26 | 2.79 | 2.21 | 2.05 | 1.96 | 2.49 | 2.79 | 3.82 |
| Debt to EBITDA | 0.76 | 1.68 | 2.83 | 1.16 | 0.84 | 1.02 | 1.19 | 0.64 |
| Debt to equity | 0.25 | 0.29 | 0.27 | 0.19 | 0.13 | 0.14 | 0.12 | 0.05 |
| Interest coverage | 16.6 | 5.2 | 1 | 5.6 | 8.3 | 6 | 6.9 | 11 |
| Asset turnover | 0.67 | 0.72 | 0.69 | 0.84 | 0.97 | 0.99 | 0.8 | 0.74 |
| Return ratios | ||||||||
| Return on assets % | 0.8% | 2.5% | -0.1% | 4.3% | 4.2% | 3.9% | 5% | 4.9% |
| Return on capital employed % | 19.2% | 5.7% | 1% | 5.4% | 9.1% | 6.6% | 7% | 8.8% |
| Return on equity % | 1.3% | 3.9% | -0.1% | 6.8% | 6.5% | 5.4% | 6.8% | 6.1% |
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.