Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 46.3% | 47.1% | 44.8% | 45% | 43.9% | 48% | 49.2% | 47.7% |
| EBITDA margin % | 15.6% | 19.2% | 15.4% | 15.5% | 11.6% | 14.5% | 19.7% | 11% |
| EBIT margin % | 14.5% | 17.3% | 13.1% | 13.2% | 9.4% | 12.3% | 18.3% | 9.2% |
| PAT margin % | 10.8% | 16.5% | 11.9% | 11.7% | 9.8% | 12.8% | 13.5% | -12.5% |
| Working capital | ||||||||
| Receivable days | 45 | 40 | 67 | 73 | 35 | 53 | 33 | 49 |
| Inventory days | 96 | 74 | 87 | 111 | 137 | 140 | 129 | 192 |
| Payable days | 2 | 0 | 100 | 95 | 91 | 90 | 82 | 80 |
| NWC days | 139 | 113 | 55 | 88 | 81 | 103 | 81 | 162 |
| Leverage | ||||||||
| Current ratio | 2.32 | 2.05 | 2.5 | 2.3 | 1.81 | 1.61 | 1.23 | 1.52 |
| Debt to EBITDA | 1.42 | 0.82 | 1.32 | 1.38 | 1.43 | 0.88 | 0.41 | 1.16 |
| Debt to equity | 0.28 | 0.27 | 0.24 | 0.26 | 0.22 | 0.2 | 0.17 | 0.26 |
| Interest coverage | 23 | 22.3 | 13.5 | 19.7 | 16.2 | 19.3 | 33.6 | 10.3 |
| Asset turnover | 0.79 | 1.04 | 0.73 | 0.76 | 0.85 | 0.95 | 1.18 | 1.1 |
| Return ratios | ||||||||
| Return on assets % | 8.5% | 17.1% | 8.6% | 8.9% | 8.3% | 12.2% | 16% | -13.7% |
| Return on capital employed % | 22.5% | 31.3% | 17.3% | 18% | 16.1% | 21% | 41.4% | 24.2% |
| Return on equity % | 13.7% | 28.5% | 14.1% | 14.4% | 13.2% | 19.8% | 28% | -25.9% |
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.