Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.4% | 43.7% | 44.3% | 37.1% | 38.7% | 43.4% | 42.4% | 43.8% |
| EBITDA margin % | 18.2% | 20.6% | 22.4% | 16.5% | 18.2% | 21.4% | 17.7% | 18.8% |
| EBIT margin % | 16% | 16.7% | 18.7% | 13.7% | 15.7% | 19% | 14.7% | 15.4% |
| PAT margin % | 11.4% | 13.7% | 14.8% | 31.5% | 12.2% | 15.7% | 10.9% | 12.4% |
| Working capital | ||||||||
| Receivable days | 33 | 35 | 44 | 49 | 49 | 50 | 46 | 46 |
| Inventory days | 86 | 101 | 115 | 123 | 107 | 108 | 126 | 105 |
| Payable days | 1 | 2 | 102 | 83 | 63 | 70 | 72 | 70 |
| NWC days | 117 | 134 | 56 | 88 | 94 | 88 | 100 | 80 |
| Leverage | ||||||||
| Current ratio | 1.5 | 1.47 | 2.03 | 2 | 2.09 | 2.06 | 2.09 | 2.21 |
| Debt to EBITDA | 0.15 | 0.15 | 0.07 | 0.16 | 0.16 | 0.15 | 0.14 | 0.34 |
| Debt to equity | 0.06 | 0.07 | 0.03 | 0.06 | 0.06 | 0.06 | 0.04 | 0.11 |
| Interest coverage | 65.1 | 36 | 47.7 | 45.8 | 40.1 | 36.2 | 24.5 | 31.7 |
| Asset turnover | 1.36 | 1.24 | 1.07 | 1.27 | 1.34 | 1.19 | 1.12 | 1.03 |
| Return ratios | ||||||||
| Return on assets % | 15.5% | 17% | 15.7% | 39.9% | 16.3% | 18.6% | 12.2% | 12.7% |
| Return on capital employed % | 35% | 35.5% | 34.2% | 29.3% | 34.7% | 37.7% | 25.4% | 26% |
| Return on equity % | 26.4% | 29.3% | 25% | 66.4% | 26.2% | 29.7% | 19.1% | 20.6% |
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.