Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 42.3% | 43.5% | 41.9% | 37% | 42.5% | 47.2% | 45.7% | 47.1% |
| EBITDA margin % | 9.1% | 10.5% | -1.8% | 7.8% | 16.2% | 17.9% | 12.7% | 13.2% |
| EBIT margin % | 7.6% | 7.2% | -8% | 5% | 13.5% | 14.6% | 9.4% | 9.8% |
| PAT margin % | 4.7% | 4.5% | -6.4% | 3.2% | 10.3% | 11.3% | 8.1% | 8.2% |
| Working capital | ||||||||
| Receivable days | 89 | 78 | 101 | 59 | 51 | 39 | 50 | 47 |
| Inventory days | 204 | 151 | 218 | 120 | 139 | 120 | 133 | 111 |
| Payable days | — | 58 | 136 | 82 | 87 | 68 | 76 | 57 |
| NWC days | — | 171 | 183 | 97 | 103 | 91 | 107 | 101 |
| Leverage | ||||||||
| Current ratio | 1.88 | 2.05 | 3.01 | 2.45 | 2.23 | 3.56 | 3.15 | 3.79 |
| Debt to EBITDA | 1.97 | 1.04 | — | 0.2 | 0.31 | 0.15 | 0.09 | 0 |
| Debt to equity | 0.52 | 0.32 | 0.03 | 0.04 | 0.14 | 0.05 | 0.02 | 0 |
| Interest coverage | 10.2 | 4.9 | -4 | 8.8 | 21.7 | 25.2 | 22 | 26.1 |
| Asset turnover | 1.5 | 1.65 | 0.83 | 1.51 | 1.62 | 1.36 | 1.34 | 1.42 |
| Return ratios | ||||||||
| Return on assets % | 7% | 7.4% | -5.3% | 4.8% | 16.7% | 15.4% | 10.8% | 11.6% |
| Return on capital employed % | 24.1% | 22% | -8.2% | 13.6% | 41.4% | 33.8% | 19.9% | 20% |
| Return on equity % | 13.6% | 13.3% | -7.5% | 7.4% | 29.4% | 21.3% | 15% | 15.1% |
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.