Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 32.9% | 38.9% | 38.4% | 39.9% | 38.5% | 34.7% | 37% | 39.2% |
| EBITDA margin % | — | 14.2% | 16.9% | 20.3% | 18.1% | 14.3% | 13.6% | 12.1% |
| EBIT margin % | — | 11.6% | 14.3% | 18.6% | 16.1% | 12.3% | 11.1% | 9.6% |
| PAT margin % | 5.4% | 6.9% | 9.7% | 13.9% | 11.2% | 8.1% | 6.3% | 6.1% |
| Working capital | ||||||||
| Receivable days | — | — | 78 | 74 | 56 | 63 | 71 | 81 |
| Inventory days | 50 | 51 | 55 | 56 | 57 | 45 | 68 | 54 |
| Payable days | 40 | 0 | 53 | 77 | 63 | 68 | 81 | 72 |
| NWC days | — | — | 80 | 52 | 50 | 40 | 59 | 62 |
| Leverage | ||||||||
| Current ratio | 0.9 | 0.98 | 1.28 | 1.34 | 1.25 | 1.23 | 1.3 | 1.21 |
| Debt to EBITDA | — | 2.01 | 1.54 | 0.75 | 1.06 | 1.49 | 1.87 | 2.32 |
| Debt to equity | 0.9 | 0.79 | 0.63 | 0.4 | 0.39 | 0.39 | 0.42 | 0.5 |
| Interest coverage | -0.7 | 4.3 | 5.9 | 10.9 | 8.7 | 5.8 | 3.7 | 4.1 |
| Asset turnover | 1.48 | 1.27 | 1.24 | 1.45 | 1.21 | 1.08 | 0.97 | 1 |
| Return ratios | ||||||||
| Return on assets % | 8% | 8.7% | 12.1% | 20.2% | 13.5% | 8.7% | 6.1% | 6% |
| Return on capital employed % | -4.7% | 26.6% | 29.8% | 47.9% | 31.2% | 19.7% | 16.2% | 15.7% |
| Return on equity % | 18.8% | 19.1% | 23.5% | 36.5% | 22.8% | 14.6% | 10.5% | 10.8% |
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.