Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.6% | 41.1% | 42.2% | 35.6% | 39.7% | 45.6% | 44% | 47.8% |
| EBITDA margin % | 8% | 10% | 12.3% | 7.2% | 13.1% | 16.5% | 11.6% | 17% |
| EBIT margin % | 5% | 6.3% | 8.2% | 3.6% | 9.3% | 12.9% | 8.2% | 13.6% |
| PAT margin % | 7.2% | 8.2% | 13% | 6.1% | 8.8% | 12.7% | 9.4% | 13.3% |
| Working capital | ||||||||
| Receivable days | 78 | 68 | 70 | 104 | 65 | 68 | 92 | 75 |
| Inventory days | 116 | 133 | 165 | 116 | 117 | 112 | 122 | 130 |
| Payable days | 21 | 30 | 29 | 33 | 39 | 24 | 36 | 35 |
| NWC days | 173 | 172 | 207 | 186 | 143 | 157 | 178 | 170 |
| Leverage | ||||||||
| Current ratio | 2.11 | 2.47 | 2.54 | 1.75 | 1.93 | 2.56 | 2.44 | 2.91 |
| Debt to EBITDA | 2.9 | 1.53 | 1.58 | 4.91 | 1.79 | 1.19 | 1.78 | 0.92 |
| Debt to equity | 0.35 | 0.2 | 0.21 | 0.44 | 0.33 | 0.24 | 0.22 | 0.13 |
| Interest coverage | 3.1 | 4.2 | 8.7 | 2.3 | 4 | 6.5 | 4.2 | 10.5 |
| Asset turnover | 1.01 | 0.97 | 0.8 | 0.78 | 0.92 | 0.86 | 0.77 | 0.68 |
| Return ratios | ||||||||
| Return on assets % | 7.2% | 7.9% | 10.4% | 4.8% | 8.1% | 10.9% | 7.3% | 9% |
| Return on capital employed % | 8.1% | 8.2% | 8.9% | 4.3% | 12.5% | 14.5% | 8.7% | 11.5% |
| Return on equity % | 10.7% | 10.7% | 13.8% | 7.6% | 12.3% | 15.1% | 10.1% | 11.4% |
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.