Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 65% | 69.4% | 68.5% | 66.5% | 60.4% | 64.6% | 68.1% | 70.1% |
| EBITDA margin % | 21.3% | 24.2% | 16.3% | 17.8% | 9.7% | 21.2% | 24.7% | 28.3% |
| EBIT margin % | 15.5% | 19.4% | 10% | 10.8% | 0.6% | 11.9% | 15.9% | 20.5% |
| PAT margin % | 14.9% | 17.2% | 17% | 5.3% | -3.1% | 2.8% | 6.1% | 15.8% |
| Working capital | ||||||||
| Receivable days | 90 | 99 | 92 | 123 | 113 | 124 | 125 | 123 |
| Inventory days | 251 | 298 | 427 | 338 | 281 | 309 | 309 | 291 |
| Payable days | 101 | 122 | 91 | 139 | 127 | 157 | 85 | 113 |
| NWC days | 240 | 275 | 429 | 322 | 267 | 277 | 350 | 301 |
| Leverage | ||||||||
| Current ratio | 2.27 | 1.52 | 1.5 | 1.45 | 0.98 | 1.26 | 1.46 | 1.31 |
| Debt to EBITDA | 1.03 | 1.5 | 6.04 | 3.34 | 7.78 | 3.83 | 1.85 | 1.51 |
| Debt to equity | 0.12 | 0.25 | 0.57 | 0.37 | 0.45 | 0.52 | 0.25 | 0.25 |
| Interest coverage | 34.6 | 42.3 | 7.2 | 3.4 | 0.4 | 1.6 | 3 | 5.5 |
| Asset turnover | 0.44 | 0.46 | 0.32 | 0.38 | 0.36 | 0.37 | 0.39 | 0.42 |
| Return ratios | ||||||||
| Return on assets % | 6.6% | 7.8% | 5.4% | 2% | -1.1% | 1% | 2.4% | 6.6% |
| Return on capital employed % | 8.9% | 12.8% | 8.6% | 6.2% | 1.1% | 6.4% | 9% | 11.8% |
| Return on equity % | 8.5% | 11.7% | 9.9% | 3.3% | -1.8% | 1.8% | 3.3% | 9.4% |
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.