Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 60.1% | 60.6% | 60.3% | 58.8% | 57.9% | 57.3% | 59.5% | 61.6% |
| EBITDA margin % | 21.5% | 22.8% | 22.7% | 20.2% | 25.3% | 27.5% | 26.8% | 28.4% |
| EBIT margin % | 18.9% | 19.5% | 19.5% | 17.6% | 23.4% | 25.4% | 24.4% | 25.9% |
| PAT margin % | 16.7% | 19.8% | 19.6% | 17.4% | 21.5% | 23.4% | 24.7% | 28.7% |
| Working capital | ||||||||
| Receivable days | 84 | 79 | 81 | 82 | 64 | 66 | 70 | 97 |
| Inventory days | 234 | 242 | 241 | 304 | 215 | 212 | 214 | 270 |
| Payable days | 5 | 42 | 53 | 49 | 46 | 31 | 41 | 47 |
| NWC days | 314 | 279 | 269 | 338 | 233 | 247 | 243 | 320 |
| Leverage | ||||||||
| Current ratio | 7.67 | 8.67 | 7.78 | 12.26 | 6.07 | 8.01 | 8.17 | 19.09 |
| Debt to EBITDA | 0.19 | 0.14 | 0.28 | 0 | 0.4 | 0.34 | 0.42 | 0 |
| Debt to equity | 0.04 | 0.03 | 0.04 | 0 | 0.09 | 0.07 | 0.07 | 0 |
| Interest coverage | 93 | 129.6 | 171.1 | 203.9 | 68.8 | 53.4 | 65.3 | 44.3 |
| Asset turnover | 0.76 | 0.72 | 0.61 | 0.7 | 0.74 | 0.65 | 0.55 | 0.52 |
| Return ratios | ||||||||
| Return on assets % | 12.7% | 14.2% | 11.9% | 12.1% | 15.9% | 15.2% | 13.5% | 14.9% |
| Return on capital employed % | 20.8% | 19.5% | 18.1% | 17.2% | 26.1% | 24.2% | 20% | 21.3% |
| Return on equity % | 14.6% | 15.9% | 13.3% | 13% | 18.6% | 17.1% | 15.3% | 15.8% |
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.