Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 47.7% | 47.2% | 46.9% | 52.6% | 41.5% | 41.1% | 44.8% | 44.8% |
| EBITDA margin % | 17.4% | 13.9% | 13.3% | 23.6% | 13.1% | 10.2% | 12.9% | 12.6% |
| EBIT margin % | 13.7% | 9% | 7.3% | 19.8% | 9.2% | 6% | 8.8% | 7.8% |
| PAT margin % | 10.8% | 8.8% | 6.9% | 16.1% | 7.9% | 6.7% | 9.1% | 7.6% |
| Working capital | ||||||||
| Receivable days | 43 | — | 62 | 50 | 43 | 47 | 48 | 48 |
| Inventory days | 265 | — | 313 | 231 | 147 | 273 | 254 | 244 |
| Payable days | 32 | — | 34 | 32 | 22 | 23 | 34 | 33 |
| NWC days | 276 | — | 341 | 249 | 168 | 296 | 269 | 259 |
| Leverage | ||||||||
| Current ratio | 2.51 | — | 3.65 | 3.03 | 4 | 3.12 | 4.63 | 4.15 |
| Debt to EBITDA | 1.65 | — | 2.62 | 0.87 | 1.27 | 1.84 | 0.98 | 1.5 |
| Debt to equity | 0.35 | — | 0.33 | 0.26 | 0.2 | 0.2 | 0.12 | 0.18 |
| Interest coverage | 9.7 | 5.8 | 5.8 | 21.4 | 11 | 8.7 | 15.5 | 10.8 |
| Asset turnover | 0.76 | — | 0.64 | 0.88 | 0.89 | 0.79 | 0.79 | 0.71 |
| Return ratios | ||||||||
| Return on assets % | 8.2% | — | 4.4% | 14.1% | 7.1% | 5.3% | 7.1% | 5.4% |
| Return on capital employed % | 17% | — | 8% | 24.7% | 11.8% | 9% | 11.4% | 8.6% |
| Return on equity % | 13.2% | — | 6.5% | 20.1% | 9.4% | 7% | 8.9% | 7.2% |
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.