Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 45.3% | 35% | 29.4% | 23.2% | 23.2% | 32.9% | 37.7% | 31.3% |
| EBITDA margin % | 14% | 3.2% | 15.3% | 9.4% | 6.9% | 16.4% | 24% | 15.6% |
| EBIT margin % | 12% | -1.3% | 13.3% | 7.8% | 5% | 15% | 23.2% | 14.6% |
| PAT margin % | 7.1% | -3.7% | 8.1% | 5.5% | 2.5% | 10.3% | 16.2% | 9.6% |
| Working capital | ||||||||
| Receivable days | — | — | 104 | 119 | 92 | 178 | 152 | 173 |
| Inventory days | — | — | 74 | 87 | 102 | 118 | 80 | 90 |
| Payable days | — | — | 91 | 115 | 62 | 172 | 108 | 129 |
| NWC days | — | — | 87 | 91 | 131 | 123 | 124 | 134 |
| Leverage | ||||||||
| Current ratio | — | — | 1.71 | 1.59 | 1.94 | 1.82 | 2.27 | 2.12 |
| Debt to EBITDA | — | — | 0.63 | 0.95 | 1.1 | 0.37 | 0.28 | 1.15 |
| Debt to equity | — | — | 0.26 | 0.27 | 0.18 | 0.11 | 0.14 | 0.29 |
| Interest coverage | 5.3 | -0 | 7.9 | 6.3 | 2.7 | 10.7 | 13.6 | 7.1 |
| Asset turnover | — | — | 1.39 | 1.36 | 1.33 | 0.95 | 1.27 | 0.88 |
| Return ratios | ||||||||
| Return on assets % | — | — | 11.3% | 7.5% | 3.3% | 9.8% | 20.7% | 8.4% |
| Return on capital employed % | — | — | 33.7% | 24.7% | 12.1% | 34.9% | 59.8% | 27.2% |
| Return on equity % | — | — | 22.2% | 16.5% | 5.8% | 18.8% | 35.2% | 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.