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Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 27.1% | 31.7% | 36.4% | 35.5% | 35.8% | 33.5% | 35.5% | 34.9% |
| EBITDA margin % | 6.3% | 9.8% | 13.9% | 12% | 8.7% | 7.8% | 8.9% | 9.8% |
| EBIT margin % | 6.3% | 7.6% | 9% | 8% | 4% | 4.1% | 5.3% | 6.2% |
| PAT margin % | 3.9% | 5.2% | 5.8% | 5.2% | 1.4% | 2.2% | 2.7% | 3.9% |
| Working capital | ||||||||
| Receivable days | 84 | 99 | 109 | 117 | 93 | 108 | 114 | 113 |
| Inventory days | 49 | 96 | 87 | 131 | 150 | 122 | 127 | 146 |
| Payable days | — | — | 161 | 166 | 142 | 147 | 127 | 153 |
| NWC days | — | — | 35 | 81 | 101 | 83 | 114 | 105 |
| Leverage | ||||||||
| Current ratio | — | — | 1.31 | 1.29 | 1.36 | 1.25 | 1.23 | 1.49 |
| Debt to EBITDA | 3.18 | 2.17 | 1.63 | 1.83 | 2.45 | 2.58 | 3.15 | 3.07 |
| Debt to equity | 0.64 | 0.61 | 0.67 | 0.56 | 0.54 | 0.53 | 0.72 | 0.45 |
| Interest coverage | 5.6 | 8.7 | 8 | 6.9 | 2 | 2.9 | 3.4 | 5.2 |
| Asset turnover | 1.23 | 0.96 | 1.11 | 1.05 | 1.08 | 1.1 | 1.05 | 0.76 |
| Return ratios | ||||||||
| Return on assets % | 4.8% | 5% | 6.4% | 5.5% | 1.5% | 2.5% | 2.9% | 3% |
| Return on capital employed % | — | — | 21.4% | 20.5% | 8.8% | 11.4% | 13.4% | 11.4% |
| Return on equity % | 12.5% | 14.8% | 16.9% | 13.3% | 3.5% | 5.8% | 6.9% | 5.9% |
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.