Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 46.7% | 48.9% | 52.2% | 51.2% | 50.3% | 48.9% | 47.6% | 50.6% |
| EBITDA margin % | 16.8% | 20.2% | 25.5% | 25.5% | 23.7% | 19.7% | 18.5% | 21.6% |
| EBIT margin % | 11.2% | 14.8% | 20.1% | 21.4% | 19.9% | 14.5% | 13.3% | 16.2% |
| PAT margin % | 8.1% | 14.1% | 14.3% | 15.2% | 14.5% | 10.2% | 8.5% | 11.6% |
| Working capital | ||||||||
| Receivable days | 44 | — | 55 | 53 | 44 | 54 | 54 | 59 |
| Inventory days | 115 | — | 133 | 129 | 112 | 127 | 111 | 131 |
| Payable days | 126 | — | 144 | 126 | 110 | 120 | 111 | 121 |
| NWC days | 33 | — | 45 | 55 | 46 | 61 | 55 | 69 |
| Leverage | ||||||||
| Current ratio | 0.97 | — | 1.1 | 1.18 | 1.17 | 1.03 | 1.13 | 1.1 |
| Debt to EBITDA | 2.9 | — | 1.58 | 1.11 | 1.23 | 1.9 | 1.71 | 1.47 |
| Debt to equity | 0.77 | — | 0.49 | 0.41 | 0.42 | 0.43 | 0.37 | 0.36 |
| Interest coverage | 5.7 | 5.6 | 13 | 23.3 | 14.8 | 6.6 | 5.5 | 9.6 |
| Asset turnover | 0.68 | — | 0.65 | 0.79 | 0.79 | 0.64 | 0.68 | 0.65 |
| Return ratios | ||||||||
| Return on assets % | 5.5% | — | 9.3% | 12% | 11.5% | 6.5% | 5.8% | 7.6% |
| Return on capital employed % | 13.1% | — | 18.7% | 26.1% | 0.5% | 26.3% | 13.4% | 15.8% |
| Return on equity % | 13% | — | 17.5% | 22.1% | 20.9% | 11.6% | 9.9% | 13.1% |
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.