Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 81.1% | 81% | 76.5% | 79.1% | 80.4% | 82.5% | 80.7% | 78.2% |
| EBITDA margin % | 18.6% | 18.8% | 14.7% | 18.3% | 22.8% | 18.5% | 13.1% | 12.4% |
| EBIT margin % | 13.5% | 12.4% | 7.3% | 11.9% | 17.5% | 12.1% | 5.6% | 4.1% |
| PAT margin % | 12.3% | 69.8% | 4.3% | 11.1% | 14.5% | 2.8% | 2.6% | -11.8% |
| Working capital | ||||||||
| Receivable days | 47 | 56 | 50 | 56 | 57 | 45 | 47 | 52 |
| Inventory days | 295 | 347 | 257 | 317 | 282 | 341 | 324 | 353 |
| Payable days | — | — | 256 | 338 | 289 | 320 | 318 | 293 |
| NWC days | — | — | 51 | 35 | 50 | 66 | 53 | 113 |
| Leverage | ||||||||
| Current ratio | 2.05 | 1.11 | 1.49 | 1.23 | 1.66 | 1.05 | 1.09 | 1.07 |
| Debt to EBITDA | 2.44 | 2.76 | 4.43 | 2.95 | 1.65 | 1.95 | 3.62 | 4.43 |
| Debt to equity | 0.42 | 0.42 | 0.47 | 0.37 | 0.32 | 0.25 | 0.33 | 0.38 |
| Interest coverage | 5.3 | 4.7 | 2.7 | 5.8 | 7.8 | 4.1 | 1.9 | 1.6 |
| Asset turnover | 0.42 | 0.37 | 0.36 | 0.37 | 0.48 | 0.42 | 0.39 | 0.37 |
| Return ratios | ||||||||
| Return on assets % | 5.2% | 26.1% | 1.5% | 4.2% | 6.9% | 1.2% | 1% | -4.4% |
| Return on capital employed % | 8.6% | 7.3% | 4.4% | 6.9% | 11.1% | 7.1% | 3.4% | 2.9% |
| Return on equity % | 11.2% | 56% | 3.1% | 7.7% | 12.3% | 2% | 1.8% | -8.1% |
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.