Consolidated figures
| Ratio | Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 58.5% | 50.4% | 50% | 54.4% | 54.2% | 50.4% | 49% |
| EBITDA margin % | 24.9% | 17% | 17.3% | 22.3% | 21.7% | 21.2% | 13.9% | 15.2% |
| EBIT margin % | 17.7% | 7.1% | 8.2% | 15% | 15.4% | 14.7% | 7.1% | 7.3% |
| PAT margin % | 2% | 0.8% | 1.6% | 8.5% | 7.8% | 8.6% | 10.3% | 1.7% |
| Working capital | ||||||||
| Receivable days | — | 104 | 162 | 140 | 89 | 78 | 88 | 68 |
| Inventory days | — | 259 | 250 | 223 | 228 | 222 | 229 | 210 |
| Payable days | — | 1 | 247 | 191 | 199 | 205 | 197 | 193 |
| NWC days | — | 362 | 165 | 172 | 118 | 95 | 120 | 86 |
| Leverage | ||||||||
| Current ratio | — | 1 | 1.08 | 1.27 | 1.26 | 1.53 | 1.1 | 1.15 |
| Debt to EBITDA | — | 4.25 | 5.52 | 3.08 | 1.89 | 1.33 | 3.6 | 3.63 |
| Debt to equity | — | 1.01 | 1.39 | 1.48 | 0.99 | 0.42 | 0.66 | 0.71 |
| Interest coverage | 2.3 | 1.2 | 1.4 | 3.6 | 4.1 | 4 | 1.9 | 1.5 |
| Asset turnover | — | 0.55 | 0.48 | 0.67 | 0.86 | 0.75 | 0.62 | 0.59 |
| Return ratios | ||||||||
| Return on assets % | — | 0.4% | 0.8% | 5.7% | 6.7% | 6.4% | 6.3% | 1% |
| Return on capital employed % | — | 6.5% | 7.3% | 18.9% | 22.9% | 20.3% | 7.8% | 6.9% |
| Return on equity % | — | 1.1% | 2.3% | 18.4% | 18.8% | 12.7% | 13.7% | 2.2% |
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.