Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 62.2% | 61.4% | 56.7% | 61.1% | 57.9% | 56.6% | 60.7% | 59.8% |
| EBITDA margin % | 11.3% | 7.8% | -2.6% | 6.6% | 6.2% | 9.1% | 11.9% | 13% |
| EBIT margin % | 9.2% | 5.4% | -7.5% | 1.9% | 2.5% | 5.3% | 8.2% | 10% |
| PAT margin % | 5.4% | 3% | -13.3% | -3.1% | -1.5% | 1.7% | 4.3% | 6.2% |
| Working capital | ||||||||
| Receivable days | 96 | 76 | 74 | 59 | 49 | 43 | 54 | 51 |
| Inventory days | 206 | 306 | 355 | 316 | 287 | 241 | 275 | 212 |
| Payable days | 144 | 149 | 230 | 191 | 183 | 132 | 160 | 132 |
| NWC days | 159 | 233 | 199 | 185 | 153 | 153 | 168 | 131 |
| Leverage | ||||||||
| Current ratio | 1.93 | 1.84 | 1.15 | 1.16 | 1.14 | 1.21 | 1.33 | 1.71 |
| Debt to EBITDA | 1.14 | 2.28 | — | 5.03 | 4.11 | 2.75 | 1.9 | 0.9 |
| Debt to equity | 0.38 | 0.51 | 1.35 | 1.49 | 1.45 | 1.33 | 1.07 | 0.48 |
| Interest coverage | 5.4 | 3.1 | -1.1 | 0.4 | 0.7 | 1.2 | 2 | 3 |
| Asset turnover | 1.52 | 1.38 | 0.76 | 0.95 | 1.12 | 1.19 | 1.19 | 1.41 |
| Return ratios | ||||||||
| Return on assets % | 8.2% | 4.1% | -10.1% | -2.9% | -1.6% | 2% | 5.1% | 8.8% |
| Return on capital employed % | 25.6% | 14.5% | -10.4% | 4% | 7% | 12.5% | 18.2% | 23% |
| Return on equity % | 16% | 8.5% | -44.6% | -13.8% | -8.3% | 9.1% | 20.4% | 25.4% |
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.