Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48% | 47.3% | 47.2% | 49% | 47% | 49.1% | 51.1% | 50.1% |
| EBITDA margin % | 12.7% | 13.1% | 7.6% | 14.2% | 15.4% | 19.6% | 19.2% | 16.6% |
| EBIT margin % | 9.7% | 9.2% | 2.7% | 10.7% | 12.5% | 16.5% | 15.8% | 13.3% |
| PAT margin % | 5.9% | 6.9% | 1% | 6.4% | 9.1% | 13% | 12.1% | 10.3% |
| Working capital | ||||||||
| Receivable days | — | — | 36 | 34 | 27 | 31 | 36 | 43 |
| Inventory days | — | — | 211 | 170 | 167 | 146 | 188 | 163 |
| Payable days | — | — | 165 | 85 | 58 | 62 | 81 | 59 |
| NWC days | — | — | 81 | 119 | 135 | 115 | 143 | 148 |
| Leverage | ||||||||
| Current ratio | — | — | 1.04 | 1.39 | 1.44 | 2.02 | 2.56 | 3 |
| Debt to EBITDA | — | — | 3.58 | 1.52 | 1.26 | 0.54 | 0.35 | 0.37 |
| Debt to equity | — | — | 0.51 | 0.5 | 0.51 | 0.22 | 0.12 | 0.11 |
| Interest coverage | 4.7 | 3.9 | 1.4 | 4.3 | 9.2 | 11.1 | 15.6 | 13.5 |
| Asset turnover | — | — | 0.82 | 1.12 | 1.26 | 1.23 | 1.13 | 1.18 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.8% | 7.2% | 11.5% | 15.9% | 13.7% | 12.2% |
| Return on capital employed % | — | — | 8.7% | 22.5% | 30.3% | 31.3% | 26.8% | 22.7% |
| Return on equity % | — | — | 1.8% | 15% | 24.2% | 26.9% | 21.6% | 18.2% |
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.