Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 71.6% | 73.1% | 72.7% | 73.4% | 70% | 69.1% | 68% | 61.8% |
| EBITDA margin % | 25.1% | 23.7% | 30.1% | 33.8% | 23.4% | 24.5% | 27.7% | 29.6% |
| EBIT margin % | 16.2% | 12.8% | 21.3% | 27.1% | 16.2% | 17% | 20.4% | 23.4% |
| PAT margin % | 10.5% | -5.7% | 17.3% | 17.9% | 9.9% | 5.3% | 13.4% | 32% |
| Working capital | ||||||||
| Receivable days | 30 | 25 | 15 | 14 | 10 | 9 | 9 | 6 |
| Inventory days | 184 | 184 | 153 | 148 | 124 | 107 | 108 | 66 |
| Payable days | 242 | 130 | 245 | 223 | 91 | 83 | 76 | 88 |
| NWC days | -28 | 79 | -77 | -61 | 43 | 33 | 41 | -16 |
| Leverage | ||||||||
| Current ratio | 0.78 | 0.91 | 0.95 | 1.04 | 0.69 | 0.66 | 0.7 | 0.77 |
| Debt to EBITDA | 2.5 | 2.52 | 2.18 | 1.18 | 1.92 | 2.04 | 1.74 | 1.16 |
| Debt to equity | 0.93 | 0.91 | 0.92 | 0.81 | 1.68 | 2.34 | 1.79 | 0.54 |
| Interest coverage | 3.3 | 2.8 | 4.4 | 8 | 4.3 | 2.9 | 3.5 | 7.1 |
| Asset turnover | 0.46 | 0.45 | 0.47 | 0.67 | 0.75 | 0.75 | 0.75 | 0.34 |
| Return ratios | ||||||||
| Return on assets % | 4.8% | -2.6% | 8.1% | 12% | 7.4% | 4% | 10.1% | 10.8% |
| Return on capital employed % | 15.6% | 11.5% | 18.7% | 29.7% | 22.2% | 24.5% | 28.9% | 12.2% |
| Return on equity % | 15.6% | -8.7% | 24.1% | 36.3% | 36.8% | 24.5% | 49.8% | 50.5% |
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.