Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48.1% | 49.4% | 47.9% | 48.8% | 44.8% | 43.5% | 42.4% | 45.3% |
| EBITDA margin % | 12.3% | 10.6% | 15.9% | 15.3% | 10.4% | 10.4% | 10.8% | 13% |
| EBIT margin % | 9.5% | 7.4% | 13.2% | 13% | 8.1% | 7.9% | 8.6% | 10.9% |
| PAT margin % | 7.2% | 17.4% | 23.1% | 20.8% | 8.4% | 7% | 10.9% | 17.1% |
| Working capital | ||||||||
| Receivable days | 33 | 31 | 28 | 23 | 15 | 17 | 22 | 18 |
| Inventory days | 194 | 264 | 217 | 203 | 273 | 262 | 232 | 235 |
| Payable days | — | — | 48 | 35 | 11 | 13 | 17 | 11 |
| NWC days | — | — | 197 | 192 | 277 | 267 | 237 | 242 |
| Leverage | ||||||||
| Current ratio | 1.43 | 1.35 | 1.53 | 1.46 | 1.65 | 1.85 | 2.1 | 2.55 |
| Debt to EBITDA | 1.23 | 2.01 | 0.79 | 1.01 | 2.03 | 1.55 | 1.43 | 0.73 |
| Debt to equity | 0.05 | 0.06 | 0.04 | 0.06 | 0.08 | 0.06 | 0.06 | 0.04 |
| Interest coverage | 7.8 | 7.7 | 19.3 | 23.3 | 6.7 | 5.3 | 9.4 | 11.9 |
| Asset turnover | 0.3 | 0.26 | 0.3 | 0.34 | 0.33 | 0.33 | 0.35 | 0.36 |
| Return ratios | ||||||||
| Return on assets % | 2.2% | 4.6% | 7% | 7% | 2.7% | 2.3% | 3.8% | 6.2% |
| Return on capital employed % | 3.9% | 3.6% | 5.4% | 5.4% | 3.6% | 3.3% | 3.7% | 4.7% |
| Return on equity % | 2.4% | 5.3% | 8% | 8.1% | 3.2% | 2.6% | 4.3% | 6.8% |
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.