Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.6% | 55.9% | 54.7% | 51.2% | 49.2% | 51.1% | 52.8% | 60.4% |
| EBITDA margin % | 21.9% | 18.2% | 18.5% | 17.2% | 15% | 13.2% | 14% | 12.9% |
| EBIT margin % | 20.4% | 16.7% | 17.1% | 16% | 13.8% | 12.2% | 13% | 9.2% |
| PAT margin % | 20.3% | 8% | 6.4% | 15.4% | 13.8% | 11.5% | 12.8% | 5% |
| Working capital | ||||||||
| Receivable days | 42 | 24 | 18 | 26 | 34 | 44 | 49 | 35 |
| Inventory days | 285 | 137 | 158 | 135 | 146 | 150 | 148 | 178 |
| Payable days | — | — | 189 | 136 | 100 | 116 | 122 | 107 |
| NWC days | — | — | -13 | 25 | 80 | 78 | 75 | 106 |
| Leverage | ||||||||
| Current ratio | 1.28 | 1.26 | 1.1 | 1.06 | 1.31 | 1.58 | 1.48 | 1.88 |
| Debt to EBITDA | 8.49 | 4.73 | 1.6 | 1.11 | 0.87 | 1.05 | 0.49 | 6.25 |
| Debt to equity | 0.46 | 0.44 | 0.12 | 0.08 | 0.06 | 0.06 | 0.03 | 0.55 |
| Interest coverage | 7 | 2.2 | 3.9 | 13 | 19.7 | 12.4 | 30.4 | 3.8 |
| Asset turnover | 0.15 | 0.32 | 0.33 | 0.35 | 0.39 | 0.38 | 0.42 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | 3.1% | 2.5% | 2.1% | 5.4% | 5.3% | 4.3% | 5.4% | 1.9% |
| Return on capital employed % | 7.5% | 6.2% | 6.6% | 6.8% | 6.3% | 5.7% | 6.6% | 4.8% |
| Return on equity % | 5.1% | 4.1% | 2.6% | 6.4% | 6.1% | 5% | 6.1% | 3.4% |
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.