Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 40.8% | 40.3% | 39% | 36.8% | 38.7% | 40.3% | 40.1% |
| EBITDA margin % | 7.7% | 14.1% | 15% | 12.2% | 12.1% | 11% | 11.5% |
| EBIT margin % | 4.9% | 11.9% | 13.2% | 10.3% | 9.8% | 8.2% | 8.7% |
| PAT margin % | 2% | 7.2% | 8.9% | 6.1% | 5.7% | 4.3% | 6.2% |
| Working capital | |||||||
| Receivable days | — | 45 | 44 | 52 | 77 | 95 | 72 |
| Inventory days | — | 91 | 99 | 97 | 85 | 151 | 145 |
| Payable days | — | 102 | 85 | 80 | 75 | 136 | 102 |
| NWC days | — | 34 | 58 | 69 | 86 | 110 | 115 |
| Leverage | |||||||
| Current ratio | — | 1.09 | 1.29 | 1.48 | 1.59 | 1.51 | 1.52 |
| Debt to EBITDA | — | 0.85 | 0.62 | 0.77 | 1.08 | 1.69 | 1.31 |
| Debt to equity | — | 0.56 | 0.39 | 0.33 | 0.37 | 0.46 | 0.36 |
| Interest coverage | 2.2 | 6.1 | 10 | 5.9 | 4.5 | 4.2 | 6.1 |
| Asset turnover | — | 1.5 | 1.68 | 1.63 | 1.46 | 1.12 | 1.25 |
| Return ratios | |||||||
| Return on assets % | — | 10.9% | 15% | 9.9% | 8.4% | 4.9% | 7.8% |
| Return on capital employed % | — | 34.7% | 45.5% | 31.5% | 24.3% | 17.6% | 21.9% |
| Return on equity % | — | 34% | 37% | 21.8% | 16.2% | 10.7% | 15.1% |
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.