Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.5% | 58.9% | 63.6% | 65.8% | 53.5% | 55.5% | 56.5% | 59.7% |
| EBITDA margin % | 18.6% | 12.5% | 19.5% | 26% | 13.3% | 9.7% | 11.6% | 14.8% |
| EBIT margin % | 14% | 6.5% | 13.6% | 22.3% | 9.4% | 5.4% | 6.8% | 9.6% |
| PAT margin % | 5.8% | 0.8% | 5.2% | 17.1% | 3.3% | -2.1% | 1.5% | 4.7% |
| Working capital | ||||||||
| Receivable days | 27 | 21 | 22 | 18 | 12 | 10 | 9 | 8 |
| Inventory days | 190 | 197 | 213 | 213 | 175 | 176 | 171 | 184 |
| Payable days | 1 | 136 | 166 | 161 | 122 | 127 | 113 | 136 |
| NWC days | 216 | 82 | 69 | 71 | 66 | 59 | 67 | 56 |
| Leverage | ||||||||
| Current ratio | 0.92 | 0.93 | 0.85 | 1.02 | 0.89 | 0.72 | 0.79 | 0.75 |
| Debt to EBITDA | 3.1 | 6.49 | 2.64 | 1.08 | 2.63 | 3.9 | 3.75 | 2.69 |
| Debt to equity | 1.37 | 1.54 | 1.09 | 0.6 | 0.82 | 0.95 | 1.04 | 0.9 |
| Interest coverage | 3.1 | 1.4 | 2.9 | 10.1 | 3.8 | 1.9 | 2.2 | 3.3 |
| Asset turnover | 0.68 | 0.56 | 0.64 | 0.85 | 0.84 | 0.84 | 0.78 | 0.77 |
| Return ratios | ||||||||
| Return on assets % | 3.9% | 0.5% | 3.3% | 14.6% | 2.8% | -1.8% | 1.1% | 3.6% |
| Return on capital employed % | 14.3% | 6% | 12.2% | 29.9% | 12.4% | 7.8% | 8.9% | 12% |
| Return on equity % | 13.7% | 1.6% | 11% | 36.5% | 7.8% | -5.3% | 3.5% | 10.7% |
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.