Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.5% | 57.9% | 60% | 56.8% | 54.6% | 56.5% | 58.9% | 59.9% |
| EBITDA margin % | 20.2% | 20.9% | 21.5% | 18.7% | 15% | 20.2% | 20.8% | 20.3% |
| EBIT margin % | 16.8% | 16.7% | 17.3% | 13.9% | 10% | 14.9% | 15.6% | 15.1% |
| PAT margin % | 12.1% | 12.3% | 21.5% | 11.3% | 7.8% | 10.9% | 11% | 10.4% |
| Working capital | ||||||||
| Receivable days | 64 | — | 52 | 62 | 66 | 61 | 66 | 77 |
| Inventory days | 304 | — | 333 | 272 | 275 | 284 | 295 | 326 |
| Payable days | 1 | — | 103 | 97 | 125 | 129 | 117 | 151 |
| NWC days | 366 | — | 281 | 237 | 216 | 216 | 244 | 252 |
| Leverage | ||||||||
| Current ratio | 1.28 | — | 1.85 | 2.21 | 1.87 | 1.95 | 1.85 | 1.81 |
| Debt to EBITDA | 1.71 | — | 0.93 | 0.54 | 1.31 | 1.08 | 1.21 | 1.12 |
| Debt to equity | 0.49 | — | 0.23 | 0.1 | 0.18 | 0.21 | 0.24 | 0.2 |
| Interest coverage | 13.1 | 24.7 | 62.5 | 73.6 | 19.7 | 16.8 | 12.1 | 14.5 |
| Asset turnover | 0.74 | — | 0.73 | 0.69 | 0.62 | 0.64 | 0.64 | 0.58 |
| Return ratios | ||||||||
| Return on assets % | 8.9% | — | 15.8% | 7.8% | 4.8% | 7% | 7% | 6% |
| Return on capital employed % | 25.6% | — | 20.1% | 14.6% | 10.2% | 15.9% | 16.3% | 14.7% |
| Return on equity % | 17% | — | 24.3% | 10.8% | 7.2% | 10.6% | 10.7% | 9.2% |
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.