Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 60% | 59.9% | 60.5% | 60.7% | 57.7% | 61% | 63.3% | 65.4% |
| EBITDA margin % | 15.2% | 17.7% | 21.9% | 19.3% | 13.9% | 17.7% | 19.4% | 20.4% |
| EBIT margin % | 12.5% | 14.6% | 18.8% | 16.4% | 11.2% | 15.4% | 16.6% | 17.8% |
| PAT margin % | 10.5% | 13.8% | 18.3% | 15.8% | 8.7% | 14.3% | 17.1% | 16% |
| Working capital | ||||||||
| Receivable days | 62 | — | 66 | 65 | 67 | 65 | 69 | 74 |
| Inventory days | 186 | — | 241 | 262 | 194 | 197 | 224 | 239 |
| Payable days | — | — | 112 | 102 | 87 | 129 | 141 | 161 |
| NWC days | — | — | 196 | 225 | 174 | 132 | 152 | 152 |
| Leverage | ||||||||
| Current ratio | 1.9 | — | 1.92 | 1.76 | 2.32 | 2.61 | 2.73 | 2.55 |
| Debt to EBITDA | 0.81 | — | 0.88 | 1.26 | 0.87 | 0.54 | 0.42 | 0.54 |
| Debt to equity | 0.17 | — | 0.23 | 0.3 | 0.15 | 0.12 | 0.09 | 0.12 |
| Interest coverage | 18.5 | 20.4 | 32.3 | 36.5 | 14.1 | 20.1 | 21.8 | 19.9 |
| Asset turnover | 0.9 | — | 0.77 | 0.76 | 0.84 | 0.81 | 0.73 | 0.7 |
| Return ratios | ||||||||
| Return on assets % | 9.4% | — | 14% | 11.9% | 7.3% | 11.6% | 12.5% | 11.3% |
| Return on capital employed % | 17.9% | — | 24% | 22.3% | 15.7% | 20.9% | 20.9% | 21.5% |
| Return on equity % | 14.2% | — | 21.9% | 19.5% | 11.1% | 17.6% | 18.5% | 17% |
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.