Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 57.9% | 58.6% | 52.7% | 56.1% | 56.9% | 53.8% | 51.8% | 49.2% |
| EBITDA margin % | 9.5% | 8.2% | 11.6% | 9.9% | 7.6% | 9.8% | 8.3% | 9.2% |
| EBIT margin % | 6.9% | 4.5% | 7.8% | 6.8% | 4.9% | 7% | 4.9% | 5.4% |
| PAT margin % | 3.1% | 1.2% | 3.7% | 4.5% | 2.7% | 3.8% | 2.2% | 2.7% |
| Working capital | ||||||||
| Receivable days | — | 63 | 49 | 41 | 40 | 47 | 51 | 39 |
| Inventory days | — | 180 | 115 | 109 | 134 | 106 | 96 | 91 |
| Payable days | — | 95 | 86 | 103 | 129 | 170 | 95 | 86 |
| NWC days | — | 148 | 78 | 47 | 44 | -17 | 52 | 44 |
| Leverage | ||||||||
| Current ratio | — | 1.35 | 1.38 | 1.16 | 1.11 | 0.98 | 1.01 | 1.1 |
| Debt to EBITDA | — | 3.39 | 2.22 | 2.31 | 2.59 | 1.32 | 1.37 | 0.97 |
| Debt to equity | — | 0.73 | 0.66 | 0.66 | 0.62 | 0.47 | 0.39 | 0.3 |
| Interest coverage | 3 | 1.7 | 3.5 | 5.3 | 3.4 | 4.1 | 2.7 | 3.4 |
| Asset turnover | — | 1.03 | 1.06 | 1.17 | 1.23 | 1.31 | 1.35 | 1.39 |
| Return ratios | ||||||||
| Return on assets % | — | 1.3% | 3.9% | 5.2% | 3.3% | 5% | 2.9% | 3.7% |
| Return on capital employed % | — | 8.5% | 14.2% | 14.7% | 11.7% | 16.4% | 12.3% | 13.7% |
| Return on equity % | — | 3.2% | 9.6% | 12.9% | 8.5% | 13.8% | 7.5% | 8.8% |
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.