Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 18.9% | 19.1% | 25.9% | 28.2% | 30.6% | ||
| 32.4% |
| 25.4% |
| EBITDA margin % | 6.5% | 4.9% | 8.3% | 7.2% | 7.5% | 7.7% | 7% |
| EBIT margin % | 5.3% | 3.4% | 6.7% | 5.8% | 6% | 6.2% | 5.8% |
| PAT margin % | 3.5% | 2.1% | 4.9% | 3.9% | 3.5% | 3.5% | 3.2% |
| Working capital | |||||||
| Receivable days | 59 | 68 | 75 | 73 | 84 | 124 | 109 |
| Inventory days | 147 | 188 | 211 | 196 | 242 | 250 | 164 |
| Payable days | 0 | 0 | 0 | 51 | 46 | 50 | 24 |
| NWC days | 206 | 256 | 286 | 217 | 279 | 324 | 249 |
| Leverage | |||||||
| Current ratio | 1.85 | 2.22 | 1.92 | 2.25 | 2.4 | 2.56 | 3.01 |
| Debt to EBITDA | 3.18 | 5.01 | 3.1 | 2.85 | 3.24 | 3.24 | 2.51 |
| Debt to equity | 0.74 | 0.59 | 0.61 | 0.45 | 0.44 | 0.37 | 0.33 |
| Interest coverage | 4.7 | 3.4 | 5.7 | 3.3 | 2.6 | 2.6 | 3.6 |
| Asset turnover | 1.59 | 1.23 | 1.09 | 1.17 | 1.04 | 0.89 | 1.17 |
| Return ratios | |||||||
| Return on assets % | 5.6% | 2.6% | 5.3% | 4.5% | 3.6% | 3.1% | 3.7% |
| Return on capital employed % | 17.1% | 9.5% | 16% | 11.8% | 10.9% | 9.5% | 10.3% |
| Return on equity % | 12.5% | 5% | 11.5% | 8.5% | 6.4% | 5.3% | 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.