Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 91.8% | 86.2% | 87.2% | 84.9% | 83.7% | 82.5% | 79.5% |
| EBITDA margin % | 18% | 17% | 3.1% | 0.4% | 7.4% | 2.9% | 3.2% |
| EBIT margin % | 14.7% | 14% | 0.1% | -2% | 4.7% | 0.1% | 0.5% |
| PAT margin % | 9.3% | 10.7% | 0.5% | -1.3% | 3.2% | 0.5% | 0.9% |
| Working capital | |||||||
| Receivable days | — | 16 | 17 | 17 | 18 | 24 | 22 |
| Inventory days | — | 220 | 361 | 265 | 333 | 340 | 264 |
| Payable days | — | 145 | 181 | 158 | 259 | 272 | 214 |
| NWC days | — | 90 | 198 | 124 | 92 | 92 | 72 |
| Leverage | |||||||
| Current ratio | — | 1.71 | 1.22 | 0.93 | 1.2 | 1.16 | 1.18 |
| Debt to EBITDA | — | 0.18 | 2.57 | 10.56 | 0.65 | 3.07 | 2.02 |
| Debt to equity | — | 0.04 | 0.12 | 0.07 | 0.09 | 0.14 | 0.11 |
| Interest coverage | 20.9 | 24.4 | 2.5 | -2.1 | 14.6 | 1.4 | 2.6 |
| Asset turnover | 1.69 | 0.93 | 0.97 | 1.21 | 1.12 | 0.96 | 1.05 |
| Return ratios | |||||||
| Return on assets % | 15.7% | 10% | 0.5% | -1.6% | 3.6% | 0.4% | 0.9% |
| Return on capital employed % | — | 19.2% | 2.3% | -2.6% | 11.6% | 1.8% | 2.5% |
| Return on equity % | — | 13.8% | 0.8% | -2.5% | 6.1% | 0.7% | 1.5% |
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.