Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 45.1% | 51.9% | 47.3% | 47.1% | 45% | ||
| 44.1% |
| 44.1% |
| EBITDA margin % | 19.3% | 28.5% | 27.2% | 25.9% | 19.7% | 16.6% | 18.6% |
| EBIT margin % | 15.9% | 25.8% | 25.3% | 23.9% | 17% | 13.1% | 14.7% |
| PAT margin % | 10.4% | 18.6% | 18% | 17.2% | 14.2% | 11.4% | 11.9% |
| Working capital | |||||||
| Receivable days | — | 85 | 93 | 59 | 71 | 72 | 89 |
| Inventory days | — | 64 | 66 | 89 | 116 | 128 | 113 |
| Payable days | — | 44 | 54 | 18 | 31 | 32 | 39 |
| NWC days | — | 104 | 105 | 129 | 156 | 168 | 163 |
| Leverage | |||||||
| Current ratio | — | 2.38 | 3.02 | 6.92 | 6.7 | 7.26 | 2.34 |
| Debt to EBITDA | — | 0.27 | 0.16 | 0.09 | 0.06 | 0.05 | 0.5 |
| Debt to equity | — | 0.11 | 0.08 | 0.04 | 0.01 | 0.01 | 0.07 |
| Interest coverage | 6.7 | 18.9 | 34.8 | 48.4 | 47.8 | 58.6 | 44.3 |
| Asset turnover | — | 1 | 1.33 | 1.2 | 0.76 | 0.62 | 0.52 |
| Return ratios | |||||||
| Return on assets % | — | 18.6% | 23.9% | 20.7% | 10.8% | 7% | 6.2% |
| Return on capital employed % | — | 32.3% | 47.4% | 35.5% | 16.2% | 10.5% | 10.7% |
| Return on equity % | — | 27.2% | 33.4% | 26.1% | 13.5% | 8.6% | 8.6% |
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.