Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.3% | 38.1% | 38% | 33.4% | 33.4% | 38.7% | 39.7% | 39.8% |
| EBITDA margin % | 15.4% | 17.2% | 20.3% | 17.2% | 15.7% | 16.3% | 16.2% | 16.2% |
| EBIT margin % | 12.1% | 13% | 16.6% | 14.3% | 12.2% | 12.8% | 12% | 11.7% |
| PAT margin % | 7.9% | 9.7% | 12.9% | 11.2% | 9.2% | 9.7% | 8.9% | 8.1% |
| Working capital | ||||||||
| Receivable days | 49 | 32 | 32 | 22 | 25 | 24 | 27 | 26 |
| Inventory days | 88 | 124 | 88 | 91 | 93 | 96 | 105 | 103 |
| Payable days | — | — | — | 93 | 85 | 92 | 89 | 107 |
| NWC days | — | — | — | 20 | 33 | 29 | 43 | 23 |
| Leverage | ||||||||
| Current ratio | 1.48 | 1.57 | 1.84 | 1.85 | 1.72 | 1.77 | 1.88 | 1.76 |
| Debt to EBITDA | 0.5 | 0.29 | 0.1 | 0.11 | 0.1 | 0.1 | 0.15 | 0.14 |
| Debt to equity | 0.15 | 0.08 | 0.04 | 0.04 | 0.03 | 0.03 | 0.04 | 0.04 |
| Interest coverage | 10 | 8.8 | 42.2 | 51.4 | 16.5 | 26.2 | 18 | 12.7 |
| Asset turnover | 1.19 | 1.13 | 1.19 | 1.3 | 1.18 | 1.25 | 1.15 | 1.13 |
| Return ratios | ||||||||
| Return on assets % | 9.4% | 10.9% | 15.3% | 14.5% | 10.8% | 12.1% | 10.3% | 9.2% |
| Return on capital employed % | 21.1% | 21.8% | 30.2% | 29.9% | 23.4% | 23.3% | 20.4% | 19.9% |
| Return on equity % | 15.4% | 16.6% | 21.5% | 21% | 17.4% | 17.1% | 14.3% | 13.2% |
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.