Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 35.7% | 35.4% | 38.7% | 46.7% | 40.8% | 37.8% | 44.6% | 48.7% |
| EBITDA margin % | 20.8% | 17.8% | 23.6% | 34.6% | 25.2% | 20.6% | 26.7% | 31.4% |
| EBIT margin % | 17.5% | 13.9% | 20.2% | 31% | 20.9% | 15.9% | 20.8% | 25.4% |
| PAT margin % | 8.9% | 6.4% | 17.1% | 20.6% | 14.3% | 13.6% | 15.1% | 19.5% |
| Working capital | ||||||||
| Receivable days | 15 | 23 | 23 | 16 | 16 | 10 | 17 | 18 |
| Inventory days | 107 | 141 | 157 | 107 | 106 | 80 | 115 | 99 |
| Payable days | 1 | 1 | 1 | 1 | 20 | 26 | 28 | 22 |
| NWC days | 121 | 163 | 178 | 122 | 102 | 63 | 105 | 96 |
| Leverage | ||||||||
| Current ratio | 1.76 | 2.08 | 2.48 | 2.57 | 2.99 | 3.36 | 3.06 | 4.5 |
| Debt to EBITDA | 2.76 | 4.56 | 3.3 | 1.17 | 1.33 | 1.71 | 2.28 | 1.45 |
| Debt to equity | 0.76 | 0.87 | 0.77 | 0.53 | 0.41 | 0.35 | 0.45 | 0.35 |
| Interest coverage | 4.3 | 3.2 | 7.4 | 8.6 | 7.5 | 6.2 | 5.2 | 6.9 |
| Asset turnover | 0.63 | 0.49 | 0.49 | 0.74 | 0.77 | 0.64 | 0.46 | 0.5 |
| Return ratios | ||||||||
| Return on assets % | 5.6% | 3.1% | 8.3% | 15.2% | 11% | 8.7% | 6.9% | 9.8% |
| Return on capital employed % | 13.9% | 8% | 15.9% | 30.1% | 20.2% | 16.1% | 15.9% | 17.3% |
| Return on equity % | 11.9% | 6.9% | 17% | 26.9% | 17.7% | 13.5% | 11.2% | 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.