Consolidated figures
| Ratio | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 31.2% | 40.3% | 38.7% | 37% | 33.7% | ||
| 36.8% |
| 33.9% |
| EBITDA margin % | 15.5% | 12.2% | 13.6% | 10% | 8.4% | 10.4% | 10.2% |
| EBIT margin % | 13.5% | 8.6% | 11.2% | 7.3% | 5.4% | 7.6% | 7.8% |
| PAT margin % | 9.3% | 8% | 9.5% | 5.4% | 5.1% | 7.3% | 7.2% |
| Working capital | |||||||
| Receivable days | — | 79 | 59 | 68 | 80 | 79 | 67 |
| Inventory days | — | 95 | 94 | 70 | 48 | 115 | 77 |
| Payable days | — | 85 | 87 | 81 | 56 | 113 | 91 |
| NWC days | — | 89 | 66 | 57 | 71 | 81 | 53 |
| Leverage | |||||||
| Current ratio | — | 1.36 | 1.56 | 1.83 | 1.8 | 1.67 | 1.68 |
| Debt to EBITDA | — | 1.24 | 1.11 | 0.95 | 1.77 | 1.18 | 1.28 |
| Debt to equity | — | 0.16 | 0.22 | 0.15 | 0.23 | 0.18 | 0.21 |
| Interest coverage | 19.3 | 25.7 | 37.1 | 26.1 | 31.9 | 31.4 | 19.9 |
| Asset turnover | — | 0.73 | 0.94 | 1.04 | 1.02 | 0.93 | 1.01 |
| Return ratios | |||||||
| Return on assets % | — | 5.9% | 8.9% | 5.7% | 5.2% | 6.8% | 7.2% |
| Return on capital employed % | — | 10.1% | 18.1% | 12.7% | 10.1% | 13.1% | 14.2% |
| Return on equity % | — | 8.4% | 14% | 8.5% | 7.8% | 10.9% | 11.5% |
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.