Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 83.6% | 83.8% | 83.6% | 85.2% | 83.5% | 81.7% | 79.8% | 78.7% |
| EBITDA margin % | 20.2% | 21.3% | 29.4% | 21.5% | 14.5% | 16.7% | 14.5% | 15.9% |
| EBIT margin % | 14.4% | 15.4% | 22.7% | 14.8% | 8.3% | 9.8% | 6.3% | 7.7% |
| PAT margin % | 9.9% | 11.2% | 14.8% | 14.7% | 3.9% | 3.8% | 3.2% | 7.7% |
| Working capital | ||||||||
| Receivable days | 35 | — | 26 | 21 | 21 | 33 | 31 | 32 |
| Inventory days | 242 | — | 253 | 342 | 240 | 209 | 215 | 196 |
| Payable days | 108 | — | 154 | 201 | 174 | 211 | 199 | 228 |
| NWC days | 169 | — | 125 | 162 | 87 | 31 | 48 | -0 |
| Leverage | ||||||||
| Current ratio | 0.67 | — | 0.6 | 0.61 | 0.61 | 0.57 | 0.52 | 0.54 |
| Debt to EBITDA | 1.37 | — | 1.99 | 3.05 | 3.79 | 3.14 | 3.77 | 2.68 |
| Debt to equity | 0.32 | — | 0.54 | 0.59 | 0.65 | 0.68 | 0.63 | 0.48 |
| Interest coverage | 15 | 12 | 14.1 | 8.1 | 3 | 2.3 | 1.3 | 1.8 |
| Asset turnover | 0.63 | — | 0.46 | 0.46 | 0.56 | 0.58 | 0.52 | 0.54 |
| Return ratios | ||||||||
| Return on assets % | 6.2% | — | 6.8% | 6.7% | 2.2% | 2.2% | 1.7% | 4.2% |
| Return on capital employed % | 13.4% | — | 13.6% | 9.4% | 6.5% | 8% | 4.8% | 6.1% |
| Return on equity % | 11.3% | — | 13.7% | 13.3% | 4.6% | 4.9% | 3.6% | 8.6% |
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.