Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 42.5% | 41.4% | 41.8% | 41.4% | 41.3% | 41.4% | 43.2% | 43.7% |
| EBITDA margin % | 14.6% | 14% | 14.4% | 14.1% | 11.4% | 11.2% | 10.2% | 10.4% |
| EBIT margin % | 12.1% | 10.3% | 11% | 10.9% | 7.9% | 7.6% | 6.5% | 6.4% |
| PAT margin % | 8.4% | 6.7% | 8.7% | 9.4% | 5.5% | 5.8% | 3% | 4.8% |
| Working capital | ||||||||
| Receivable days | 669 | 64 | 74 | 59 | 61 | 65 | 65 | 68 |
| Inventory days | 1,081 | 110 | 120 | 116 | 109 | 96 | 107 | 120 |
| Payable days | 699 | 85 | 95 | 66 | 66 | 71 | 74 | 71 |
| NWC days | 1,052 | 89 | 99 | 109 | 104 | 90 | 98 | 117 |
| Leverage | ||||||||
| Current ratio | 1.65 | 1.47 | 1.76 | 2.02 | 1.92 | 1.87 | 1.45 | 1.45 |
| Debt to EBITDA | 12.81 | 1.42 | 1.14 | 1.13 | 2.05 | 1.93 | 1.97 | 1.98 |
| Debt to equity | 0.38 | 0.36 | 0.27 | 0.27 | 0.52 | 0.46 | 0.51 | 0.55 |
| Interest coverage | 9.3 | 8.1 | 11.1 | 16.4 | 7.2 | 5.4 | 4.3 | 5.7 |
| Asset turnover | 0.11 | 0.99 | 0.96 | 1.06 | 1.13 | 1.12 | 1.2 | 1.21 |
| Return ratios | ||||||||
| Return on assets % | 0.9% | 6.6% | 8.3% | 10% | 6.2% | 6.5% | 3.6% | 5.8% |
| Return on capital employed % | 2.6% | 18.8% | 20.2% | 20.7% | 18.3% | 16.9% | 15.6% | 20.9% |
| Return on equity % | 1.7% | 12.2% | 14.4% | 16% | 12.4% | 12.3% | 7.8% | 12.7% |
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.