Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 56.8% | 59% | 53.4% | 57.1% | 46.7% | 49.3% | 53.5% | 53% |
| EBITDA margin % | 13.2% | 11.7% | 19.6% | 18.2% | 7.3% | 9.6% | 10.5% | 9.2% |
| EBIT margin % | 11.8% | 9.8% | 18.6% | 17.3% | 6.1% | 8.4% | 9.4% | 8% |
| PAT margin % | 6.5% | 6.4% | 13.4% | 13% | 4.7% | 5.7% | 6.7% | 5.8% |
| Working capital | ||||||||
| Receivable days | 126 | 94 | 101 | 136 | 139 | 146 | 151 | 168 |
| Inventory days | 281 | 426 | 233 | 336 | 293 | 250 | 283 | 275 |
| Payable days | 110 | 126 | 97 | 127 | 78 | 88 | 93 | 105 |
| NWC days | 298 | 395 | 237 | 345 | 353 | 308 | 341 | 338 |
| Leverage | ||||||||
| Current ratio | 1.79 | 1.96 | 2.33 | 2.02 | 2.53 | 2.62 | 2.62 | 2.59 |
| Debt to EBITDA | 1.38 | 1.55 | 0.54 | 1.3 | 2.94 | 1.9 | 1.73 | 2.15 |
| Debt to equity | 0.38 | 0.3 | 0.19 | 0.39 | 0.27 | 0.23 | 0.22 | 0.23 |
| Interest coverage | 7.4 | 5.5 | 18.7 | 14.2 | 4.1 | 5.8 | 6.4 | 6.2 |
| Asset turnover | 1.13 | 0.98 | 1.13 | 0.93 | 0.82 | 0.84 | 0.82 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | 7.3% | 6.2% | 15% | 12.2% | 3.9% | 4.8% | 5.5% | 4.5% |
| Return on capital employed % | 24.8% | 17.8% | 36.6% | 31.3% | 9.8% | 12.3% | 13.1% | 11.5% |
| Return on equity % | 13.6% | 10.7% | 24% | 21.8% | 5.9% | 7.3% | 8.2% | 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.