Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 50.1% | 47.6% | 50.6% | 52.3% | 49.1% | 43.2% | 48.1% | 50.1% |
| EBITDA margin % | 17.5% | 18.9% | 21.6% | 20.6% | 19% | 10.5% | 16.3% | 17.9% |
| EBIT margin % | 13% | 13.3% | 16% | 15.5% | 14.3% | 4.1% | 10.4% | 11.6% |
| PAT margin % | 7% | 6.1% | 9% | 9.6% | 8.2% | -4.4% | 1.8% | 4.3% |
| Working capital | ||||||||
| Receivable days | 195 | 123 | 119 | 121 | 124 | 139 | 121 | 126 |
| Inventory days | 306 | 153 | 180 | 216 | 187 | 190 | 155 | 179 |
| Payable days | 330 | 199 | 2 | 274 | 236 | 234 | 164 | 169 |
| NWC days | 171 | 77 | 297 | 64 | 76 | 95 | 113 | 135 |
| Leverage | ||||||||
| Current ratio | 1.64 | 1.75 | 1.53 | 1.42 | 1.45 | 1.46 | 1.39 | 1.21 |
| Debt to EBITDA | 7.57 | 4.23 | 2.85 | 2.71 | 2.26 | 6.27 | 3.12 | 2.38 |
| Debt to equity | 1.96 | 1.76 | 1.33 | 1.19 | 0.86 | 1.15 | 0.81 | 0.64 |
| Interest coverage | 3.2 | 3.3 | 3.1 | 3.2 | 2.7 | 0.6 | 1.5 | 2 |
| Asset turnover | 0.35 | 0.51 | 0.55 | 0.56 | 0.6 | 0.49 | 0.53 | 0.54 |
| Return ratios | ||||||||
| Return on assets % | 2.4% | 3.1% | 5% | 5.4% | 5% | -2.1% | 0.9% | 2.3% |
| Return on capital employed % | 9.9% | 9.7% | 12.4% | 14.1% | 14.2% | 3.8% | 8.9% | 11.2% |
| Return on equity % | 10.3% | 13.4% | 19.5% | 20.5% | 16.4% | -7.6% | 2.8% | 6.4% |
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.