Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.6% | 51.6% | 42% | 53% | 51.6% | 52.5% | 51.9% | 52.9% |
| EBITDA margin % | 13.2% | 9.9% | 4.9% | 17.5% | 16.5% | 13.6% | 12.4% | 12.9% |
| EBIT margin % | 9.8% | 5.6% | -0.7% | 14.4% | 13.9% | 11% | 9.7% | 9.9% |
| PAT margin % | 5.5% | 4.1% | 0.3% | 11.4% | 11.2% | 8.8% | 8.9% | 9% |
| Working capital | ||||||||
| Receivable days | 79 | 73 | 87 | 74 | 70 | 82 | 85 | 92 |
| Inventory days | 191 | 190 | 147 | 165 | 143 | 172 | 148 | 161 |
| Payable days | 79 | — | 102 | 87 | 65 | 0 | 67 | 68 |
| NWC days | 191 | — | 133 | 152 | 148 | 253 | 166 | 184 |
| Leverage | ||||||||
| Current ratio | 1.79 | 1.73 | 2.29 | 2.1 | 2.66 | 2.73 | 2.64 | 2.42 |
| Debt to EBITDA | 1.72 | 2.05 | 2.13 | 0.64 | 0.41 | 0.58 | 0.85 | 0.96 |
| Debt to equity | 0.55 | 0.45 | 0.15 | 0.23 | 0.13 | 0.14 | 0.18 | 0.22 |
| Interest coverage | 4.2 | 3 | 1.1 | 17.1 | 17.8 | 13.2 | 12.2 | 9.9 |
| Asset turnover | 1.21 | 1.13 | 0.9 | 1.26 | 1.36 | 1.31 | 1.18 | 1.17 |
| Return ratios | ||||||||
| Return on assets % | 6.6% | 4.6% | 0.3% | 14.3% | 15.3% | 11.5% | 10.4% | 10.5% |
| Return on capital employed % | 22% | 13% | 3.5% | 31.4% | 30.9% | 22% | 22.2% | 22.6% |
| Return on equity % | 13.1% | 9% | 0.5% | 23.2% | 22.1% | 16.2% | 15.4% | 15.8% |
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.