Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 40.2% | 39.6% | 47% | 35.7% | 40.2% | ||
| 44.2% |
| 44.4% |
| EBITDA margin % | 19.4% | 21.5% | 22% | 10.4% | 16.4% | 17.8% | 19.3% |
| EBIT margin % | 14% | 17.5% | 15.8% | 4.3% | 12% | 13.4% | 14.8% |
| PAT margin % | 7.9% | 11.1% | 12% | -1.4% | 7% | 8.8% | 11.5% |
| Working capital | |||||||
| Receivable days | — | — | 34 | 104 | 122 | 95 | 89 |
| Inventory days | — | — | 333 | 243 | 201 | 238 | 260 |
| Payable days | — | — | 97 | 123 | 130 | 95 | 89 |
| NWC days | — | — | 270 | 224 | 192 | 237 | 260 |
| Leverage | |||||||
| Current ratio | — | — | 1.92 | 1.61 | 1.61 | 1.71 | 1.81 |
| Debt to EBITDA | — | — | 2.28 | 4.63 | 2.4 | 2.24 | 2.13 |
| Debt to equity | — | — | 0.55 | 0.55 | 0.52 | 0.49 | 0.46 |
| Interest coverage | 5.2 | 9.2 | 4.6 | 1.2 | 3.8 | 6 | 6.1 |
| Asset turnover | — | — | 0.6 | 0.59 | 0.69 | 0.68 | 0.65 |
| Return ratios | |||||||
| Return on assets % | — | — | 7.2% | -0.8% | 4.8% | 6% | 7.5% |
| Return on capital employed % | — | — | 13.2% | 4.2% | 13.5% | 14.5% | 15.2% |
| Return on equity % | — | — | 13.2% | -1.5% | 9.3% | 10.8% | 13% |
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.