Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 51.9% | 47.7% | 49.8% | 58.5% | 52% | 39.8% | 36.4% |
| EBITDA margin % | 24.7% | 11.3% | 18.8% | 33.4% | 24.6% | 11.8% | 9.7% |
| EBIT margin % | 16.8% | 1% | 12.5% | 29.5% | 20.4% | 6.7% | 3.8% |
| PAT margin % | 16.3% | -0.2% | 10.2% | 22.1% | 17.7% | 8.3% | 3.6% |
| Working capital | |||||||
| Receivable days | 21 | 33 | 26 | 25 | 21 | 31 | 33 |
| Inventory days | 167 | 128 | 85 | 88 | 117 | 130 | 108 |
| Payable days | — | 64 | 59 | 54 | 56 | 50 | 36 |
| NWC days | — | 98 | 52 | 58 | 81 | 112 | 106 |
| Leverage | |||||||
| Current ratio | 1.45 | 1.33 | 1.64 | 2.65 | 2.93 | 3 | 3.42 |
| Debt to EBITDA | 1.01 | 2.62 | 0.7 | 0.12 | 0.23 | 0.9 | 0.76 |
| Debt to equity | 0.45 | 0.48 | 0.26 | 0.08 | 0.08 | 0.12 | 0.09 |
| Interest coverage | 6.3 | 0.7 | 8.2 | 41.3 | 45.1 | 12.6 | 6.7 |
| Asset turnover | 0.77 | 0.72 | 1.01 | 1.18 | 0.87 | 0.74 | 0.78 |
| Return ratios | |||||||
| Return on assets % | 12.6% | -0.1% | 10.3% | 26% | 15.4% | 6.1% | 2.9% |
| Return on capital employed % | 18.7% | 2% | 19.4% | 51.4% | 28.1% | 10.9% | 6% |
| Return on equity % | 29.3% | -0.3% | 20.5% | 42.1% | 24.2% | 9.6% | 4.3% |
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.