Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 38.8% | 43.1% | 40.1% | 33.6% | 34.3% | 34.8% | 34.3% | 34.5% |
| EBITDA margin % | 9.4% | 12.2% | 10.4% | 11.5% | 12.6% | 11.5% | 9.5% | 9.9% |
| EBIT margin % | 6.6% | 8.3% | 6.3% | 8.7% | 10% | 8.8% | 7% | 7% |
| PAT margin % | 4.3% | 6.6% | 5% | 7.9% | 8.9% | 10.2% | 5.4% | 4.9% |
| Working capital | ||||||||
| Receivable days | — | 40 | 74 | 52 | 52 | 59 | 62 | 70 |
| Inventory days | — | 75 | 111 | 58 | 50 | 59 | 63 | 70 |
| Payable days | — | 94 | 224 | 103 | 86 | 92 | 89 | 98 |
| NWC days | — | 22 | -38 | 7 | 16 | 26 | 36 | 41 |
| Leverage | ||||||||
| Current ratio | — | 1.12 | 0.81 | 0.98 | 1.45 | 1.63 | 1.81 | 1.87 |
| Debt to EBITDA | — | 0.47 | 3.02 | 0.56 | 0.33 | 0.38 | 0.24 | 0.17 |
| Debt to equity | — | 0.16 | 0.83 | 0.26 | 0.16 | 0.15 | 0.08 | 0.05 |
| Interest coverage | 8.3 | 15 | 12.1 | 20.5 | 38.5 | 33.2 | 27.2 | 32 |
| Asset turnover | — | 1.54 | 0.7 | 1.41 | 1.46 | 1.28 | 1.22 | 1.06 |
| Return ratios | ||||||||
| Return on assets % | — | 10.1% | 3.5% | 11.2% | 12.9% | 13.1% | 6.6% | 5.2% |
| Return on capital employed % | — | 24.3% | 17.7% | 30.2% | 31.3% | 23.8% | 18% | 15.4% |
| Return on equity % | — | 18.1% | 13.2% | 32.3% | 33.5% | 33.8% | 19% | 14.4% |
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.