Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.7% | 61.4% | 60.2% | 58.8% | 45.4% | 48.4% | 50.2% | 50.3% |
| EBITDA margin % | 14.9% | 16.6% | 18.4% | 20.6% | 7.7% | 10.6% | 10.4% | 10.8% |
| EBIT margin % | 9.9% | 10.5% | 12.5% | 16.5% | 2.9% | 5.6% | 4.9% | 5.4% |
| PAT margin % | 3.5% | 3.4% | 6% | 11.8% | 2.1% | 2.9% | 2.3% | 3% |
| Working capital | ||||||||
| Receivable days | 25 | 52 | 43 | 17 | 19 | 29 | 27 | 21 |
| Inventory days | 240 | 366 | 260 | 207 | 178 | 220 | 209 | 156 |
| Payable days | 89 | 97 | 107 | 145 | 92 | 103 | 75 | 72 |
| NWC days | 176 | 321 | 196 | 79 | 105 | 146 | 161 | 105 |
| Leverage | ||||||||
| Current ratio | 0.78 | 0.91 | 0.78 | 0.86 | 0.77 | 0.9 | 0.91 | 0.82 |
| Debt to EBITDA | 4.15 | 5.01 | 2.8 | 0.63 | 3.19 | 3.26 | 3.47 | 2.66 |
| Debt to equity | 1.05 | 1.23 | 0.78 | 0.25 | 0.47 | 0.64 | 0.63 | 0.53 |
| Interest coverage | 2.2 | 2.1 | 3.4 | 10.6 | 2 | 2.8 | 2.1 | 3.2 |
| Asset turnover | 0.57 | 0.49 | 0.59 | 0.86 | 0.8 | 0.75 | 0.75 | 0.82 |
| Return ratios | ||||||||
| Return on assets % | 2% | 1.7% | 3.5% | 10.2% | 1.7% | 2.2% | 1.7% | 2.5% |
| Return on capital employed % | 9.6% | 9.3% | 12.3% | 23.4% | 5% | 8.2% | 6.6% | 7.6% |
| Return on equity % | 5.9% | 5.1% | 9.1% | 22.6% | 4% | 5.4% | 4% | 5.6% |
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.