Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 54.5% | 55.4% | 52.2% | 46.7% | 49.2% | 48.4% | 48.7% |
| EBITDA margin % | 18.8% | 18% | 18.2% | 21.6% | 15% | 13.8% | 13% | 13% |
| EBIT margin % | 11.9% | 10.9% | 10.7% | 16.9% | 10% | 8.4% | 7.8% | 8.2% |
| PAT margin % | 7.1% | 7.2% | 6.7% | 11.9% | 7% | 5.1% | 5.3% | 5.6% |
| Working capital | ||||||||
| Receivable days | — | — | 36 | 27 | 16 | 22 | 16 | 13 |
| Inventory days | — | — | 185 | 143 | 117 | 147 | 126 | 128 |
| Payable days | — | — | 54 | 50 | 58 | 50 | 34 | 39 |
| NWC days | — | — | 167 | 121 | 75 | 119 | 107 | 103 |
| Leverage | ||||||||
| Current ratio | — | — | 0.99 | 1.27 | 1.4 | 1.58 | 2.01 | 1.57 |
| Debt to EBITDA | — | — | 1.87 | 1.04 | 1.52 | 2.19 | 1.73 | 2.03 |
| Debt to equity | — | — | 0.46 | 0.41 | 0.34 | 0.48 | 0.34 | 0.37 |
| Interest coverage | 5.6 | 4.8 | 7 | 13.9 | 8.3 | 4 | 4.6 | 5.5 |
| Asset turnover | — | — | 0.78 | 1.08 | 0.93 | 0.9 | 0.98 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.3% | 12.8% | 6.5% | 4.6% | 5.2% | 5% |
| Return on capital employed % | — | — | 12.8% | 28.6% | 13.4% | 11.3% | 10.3% | 10.6% |
| Return on equity % | — | — | 9.1% | 21.7% | 10.5% | 8.1% | 8% | 7.9% |
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.