Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 26.8% | 23.1% | 21.6% | 22.2% | 24.5% | 25.1% | 23.2% |
| EBITDA margin % | 11.4% | 10.1% | 8.2% | 9.3% | 10% | 9.4% | 8.4% |
| EBIT margin % | 8.9% | 7.5% | 6.2% | 7.6% | 8.3% | 7.8% | 6.8% |
| PAT margin % | 4.7% | 3.4% | 3% | 3.8% | 4% | 3.7% | 3.1% |
| Working capital | |||||||
| Receivable days | 95 | 110 | 99 | 101 | 104 | 104 | 92 |
| Inventory days | 137 | 137 | 131 | 124 | 122 | 126 | 127 |
| Payable days | 46 | 48 | 44 | 51 | 43 | 52 | 48 |
| NWC days | 186 | 199 | 187 | 174 | 183 | 179 | 171 |
| Leverage | |||||||
| Current ratio | 1.39 | 1.38 | 1.38 | 1.4 | 1.5 | 1.47 | 1.41 |
| Debt to EBITDA | 2.61 | 3.17 | 3.74 | 2.84 | 2.63 | 3.15 | 3.61 |
| Debt to equity | 0.56 | 0.6 | 0.7 | 0.67 | 0.65 | 0.77 | 0.9 |
| Interest coverage | 2.5 | 2.3 | 2.6 | 3.1 | 2.9 | 2.8 | 2.5 |
| Asset turnover | 0.95 | 0.91 | 1.07 | 1.16 | 1.17 | 1.2 | 1.28 |
| Return ratios | |||||||
| Return on assets % | 4.4% | 3.1% | 3.2% | 4.4% | 4.7% | 4.4% | 3.9% |
| Return on capital employed % | 15.2% | 13.6% | 13.7% | 19.3% | 20.4% | 20.5% | 19.1% |
| Return on equity % | 8.8% | 6.4% | 6.8% | 9.7% | 9.9% | 9.6% | 9.1% |
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.