Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 51.1% | 52.1% | 50.4% | 50.2% | 52.4% | 54.4% | 49.9% | 49.7% |
| EBITDA margin % | 22.2% | 20.8% | 16.8% | 9.3% | 12.9% | 10.4% | 10.4% | 12% |
| EBIT margin % | 18.3% | 15.1% | 10.9% | 3.6% | 8.4% | 4.3% | 2.5% | 5.4% |
| PAT margin % | 11.5% | 8.2% | 5.5% | 0.8% | 1.8% | -1% | -3.1% | 1.2% |
| Working capital | ||||||||
| Receivable days | 97 | 111 | 110 | 108 | 96 | 106 | 75 | 82 |
| Inventory days | 87 | 67 | 95 | 117 | 92 | 120 | 134 | 139 |
| Payable days | 281 | 212 | 296 | 308 | 238 | 318 | 188 | 163 |
| NWC days | -97 | -34 | -91 | -83 | -50 | -92 | 22 | 58 |
| Leverage | ||||||||
| Current ratio | 0.96 | 0.95 | 1 | 1.02 | 0.96 | 0.9 | 0.91 | 0.98 |
| Debt to EBITDA | 1.7 | 2.06 | 3.5 | 6.19 | 4.12 | 5.66 | 4.37 | 3.21 |
| Debt to equity | 1.12 | 1.15 | 1.43 | 1.69 | 1.75 | 1.59 | 0.91 | 0.81 |
| Interest coverage | 9.2 | 3.7 | 2.8 | 1.1 | 2 | 0.8 | 0.6 | 1.4 |
| Asset turnover | 0.73 | 0.71 | 0.6 | 0.66 | 0.78 | 0.66 | 0.72 | 0.75 |
| Return ratios | ||||||||
| Return on assets % | 8.4% | 5.9% | 3.3% | 0.5% | 1.4% | -0.7% | -2.2% | 0.9% |
| Return on capital employed % | 39.7% | 26.7% | 16.3% | 7% | 17% | 8.8% | 4.4% | 9.5% |
| Return on equity % | 34.1% | 22.1% | 13.4% | 2.4% | 6.1% | -2.8% | -6.2% | 2.5% |
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.