Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 49.2% | 43.4% | 38.2% | 37.8% | 41.3% | 41.7% | 43.7% |
| EBITDA margin % | 13.8% | 14.9% | 10.6% | 10.4% | 10.1% | 7.3% | 10.3% |
| EBIT margin % | 11.1% | 11.9% | 7.9% | 7.2% | 6.2% | 2% | 5.6% |
| PAT margin % | 8.9% | 9.9% | 7.3% | 7.1% | 6.2% | 2.8% | 4.2% |
| Working capital | |||||||
| Receivable days | 36 | 45 | 33 | 36 | 45 | 37 | 42 |
| Inventory days | 75 | 83 | 62 | 68 | 71 | 64 | 67 |
| Payable days | — | 3 | 57 | 53 | 81 | 66 | 78 |
| NWC days | — | 126 | 39 | 51 | 34 | 35 | 31 |
| Leverage | |||||||
| Current ratio | — | 1.46 | 1.43 | 2.1 | 0.77 | 0.93 | 0.83 |
| Debt to EBITDA | 0.64 | 0.57 | 1.07 | 1.57 | 4.26 | 5.85 | 2.31 |
| Debt to equity | 0.21 | 0.17 | 0.24 | 0.29 | 0.44 | 0.48 | 0.28 |
| Interest coverage | 21.6 | 19.3 | 18.5 | 14 | 4.4 | 1.6 | 2.8 |
| Asset turnover | 1.32 | 1.18 | 1.26 | 1.06 | 0.56 | 0.63 | 0.75 |
| Return ratios | |||||||
| Return on assets % | 11.8% | 11.6% | 9.3% | 7.5% | 3.4% | 1.8% | 3.1% |
| Return on capital employed % | — | 22.8% | 18.9% | 15.3% | 9.7% | 4.8% | 7.1% |
| Return on equity % | 21.1% | 20.3% | 15.7% | 12.7% | 6.3% | 3.2% | 4.9% |
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.