Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.9% | 42.9% | 43.1% | 42.3% | 40.6% | 44.2% | 47% | 49.2% |
| EBITDA margin % | 12.8% | 14.4% | 15.4% | 12.5% | 9.2% | 12.5% | 11.4% | 6% |
| EBIT margin % | 8.7% | 10.1% | 10.8% | 8.4% | 4.2% | 6.9% | 6.4% | 2.5% |
| PAT margin % | 8.5% | 8.5% | 7.6% | 5.9% | 2% | 14.1% | 1.8% | 0.4% |
| Working capital | ||||||||
| Receivable days | — | — | 95 | 83 | 77 | 84 | 134 | 63 |
| Inventory days | — | — | 142 | 163 | 132 | 113 | 507 | 179 |
| Payable days | — | — | 152 | 150 | 136 | 132 | 288 | 113 |
| NWC days | — | — | 85 | 96 | 73 | 65 | 353 | 129 |
| Leverage | ||||||||
| Current ratio | — | — | 1.2 | 1.13 | 1.14 | 1.38 | 2.12 | 2.06 |
| Debt to EBITDA | — | — | 2.13 | 2.98 | 3.88 | 1.39 | 5.47 | 3.59 |
| Debt to equity | — | — | 0.83 | 0.98 | 0.99 | 0.38 | 0.61 | 0.61 |
| Interest coverage | 8.5 | 12.5 | 11.7 | 9.8 | 2.4 | 5.2 | 5.1 | 2 |
| Asset turnover | — | — | 0.93 | 0.93 | 0.96 | 1.08 | 0.34 | 1.01 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7% | 5.5% | 1.9% | 15.2% | 0.6% | 0.4% |
| Return on capital employed % | — | — | 18.2% | 15.6% | 7.5% | 13.3% | 6% | 4.7% |
| Return on equity % | — | — | 19% | 15.6% | 5.4% | 31.1% | 1.7% | 1.2% |
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.