Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.2% | 26.7% | 26.9% | 39.1% | 35.2% | 41.5% | 39.3% | 39.9% |
| EBITDA margin % | 9.8% | 12.2% | 11.9% | 13.5% | 9.8% | 10.2% | 7% | 7.2% |
| EBIT margin % | 8% | 10.6% | 10.2% | 11.8% | 8.3% | 8.5% | 5.1% | 5.3% |
| PAT margin % | 6.9% | 7.6% | 6.3% | 9% | 28.4% | 6.4% | 3.5% | 3.5% |
| Working capital | ||||||||
| Receivable days | 28 | 29 | 16 | 21 | 23 | 20 | 28 | 27 |
| Inventory days | 347 | 215 | 184 | 260 | 178 | 245 | 242 | 238 |
| Payable days | 0 | 0 | 66 | 45 | 37 | 36 | 49 | 36 |
| NWC days | 374 | 243 | 134 | 236 | 164 | 230 | 220 | 229 |
| Leverage | ||||||||
| Current ratio | 1.18 | 1.26 | 1.42 | 1.36 | 1.97 | 1.72 | 1.46 | 1.49 |
| Debt to EBITDA | 5.21 | 2.55 | 1.75 | 2.46 | 1.48 | 2.25 | 4.14 | 3.92 |
| Debt to equity | 1.41 | 1.04 | 0.63 | 0.82 | 0.34 | 0.49 | 0.63 | 0.64 |
| Interest coverage | 4.6 | 6.4 | 9.9 | 10.6 | 10.6 | 10.5 | 4.9 | 4.8 |
| Asset turnover | 0.83 | 1.1 | 1.3 | 1.09 | 1.42 | 1.2 | 1.09 | 1.17 |
| Return ratios | ||||||||
| Return on assets % | 5.7% | 8.3% | 8.1% | 9.9% | 40.2% | 7.7% | 3.8% | 4.1% |
| Return on capital employed % | 23.5% | 28.4% | 25.4% | 25.7% | 22% | 18.3% | 11.5% | 12.5% |
| Return on equity % | 19% | 25% | 18.9% | 22.2% | 67.2% | 13.6% | 7.7% | 8% |
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.