Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 5.9% | 5.5% | 5.5% | 6% | ||||
| 6% |
| 5.7% |
| 5.3% |
| 4.9% |
| EBITDA margin % | 1.9% | 2% | 2.4% | 2.9% | 2.7% | 2.1% | 2% | 1.9% |
| EBIT margin % | 1.8% | 1.7% | 2.1% | 2.6% | 2.5% | 1.9% | 1.8% | 1.7% |
| PAT margin % | 1% | 1% | 1.4% | 2.1% | 1.8% | 1.4% | 1.8% | 1.1% |
| Working capital | ||||||||
| Receivable days | 49 | — | 44 | 51 | 55 | 57 | 64 | 66 |
| Inventory days | 32 | — | 20 | 27 | 35 | 29 | 24 | 26 |
| Payable days | — | — | 50 | 63 | 54 | 51 | 52 | 58 |
| NWC days | — | — | 14 | 15 | 36 | 34 | 36 | 34 |
| Leverage | ||||||||
| Current ratio | 1.45 | — | 1.52 | 1.46 | 1.42 | 1.43 | 1.46 | 1.41 |
| Debt to EBITDA | 1.45 | — | 0.33 | 0.35 | 1.48 | 1.5 | 1.29 | 1.18 |
| Debt to equity | 0.33 | — | 0.09 | 0.11 | 0.45 | 0.37 | 0.3 | 0.26 |
| Interest coverage | 4.4 | 4.2 | 8.3 | 15 | 7.7 | 5.1 | 6.2 | 6.2 |
| Asset turnover | 3.75 | — | 3.91 | 3.4 | 3.41 | 3.66 | 3.6 | 3.52 |
| Return ratios | ||||||||
| Return on assets % | 3.9% | — | 5.4% | 7.1% | 6.2% | 5.1% | 6.6% | 3.8% |
| Return on capital employed % | 21.5% | — | 23.2% | 28.8% | 29.7% | 24.8% | 23% | 21.7% |
| Return on equity % | 12.4% | — | 15.9% | 22.7% | 20.8% | 16.4% | 20.9% | 12.6% |
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.