Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 42.7% | 41.4% | 39.1% | 37.2% | 39% | 38.6% | 36.9% |
| EBITDA margin % | 10.1% | 10.1% | 8.9% | 8.6% | 9.7% | 9.9% | 9% |
| EBIT margin % | 5% | 5.1% | 4.6% | 4.4% | 5.3% | 5.5% | 5% |
| PAT margin % | 2.9% | 3.1% | 2.4% | 2.5% | 3.1% | 3.7% | 4.1% |
| Working capital | |||||||
| Receivable days | — | 77 | 70 | 45 | 47 | 52 | 62 |
| Inventory days | — | 71 | 67 | 60 | 57 | 63 | 67 |
| Payable days | — | 131 | 100 | 82 | 83 | 81 | 93 |
| NWC days | — | 17 | 37 | 22 | 21 | 34 | 35 |
| Leverage | |||||||
| Current ratio | — | 1.12 | 1.04 | 0.99 | 0.95 | 0.92 | 0.94 |
| Debt to EBITDA | — | 1.17 | 2.53 | 2.2 | 1.83 | 2.14 | 2.17 |
| Debt to equity | — | 0.27 | 0.61 | 0.59 | 0.61 | 0.72 | 0.71 |
| Interest coverage | 5.3 | 6.6 | 6.4 | 3.9 | 3.8 | 4 | 4.6 |
| Asset turnover | — | 1.17 | 1.17 | 1.35 | 1.45 | 1.39 | 1.4 |
| Return ratios | |||||||
| Return on assets % | — | 3.6% | 2.8% | 3.4% | 4.5% | 5.1% | 5.7% |
| Return on capital employed % | — | 10.5% | 10.2% | 10.9% | 14% | 15.1% | 18.8% |
| Return on equity % | — | 7.2% | 6.5% | 8% | 10.8% | 12.4% | 14.9% |
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.