Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 39% | 41.5% | 43.3% | 38% | 36.3% | 40.7% | 41.4% | 42.5% |
| EBITDA margin % | 14.5% | 16.7% | 17.4% | 15.2% | 14.1% | 16.6% | 16.1% | 15.4% |
| EBIT margin % | 12.3% | 13.7% | 14.3% | 12.6% | 11.6% | 13.7% | 13% | 12.1% |
| PAT margin % | 8.2% | 10.3% | 10.6% | 9.5% | 8.1% | 10.5% | 10.3% | 9.5% |
| Working capital | ||||||||
| Receivable days | 42 | 41 | 55 | 44 | 43 | 42 | 49 | 48 |
| Inventory days | 99 | 125 | 152 | 156 | 126 | 120 | 128 | 128 |
| Payable days | 2 | 104 | 141 | 121 | 96 | 92 | 94 | 93 |
| NWC days | 139 | 62 | 66 | 78 | 73 | 70 | 82 | 83 |
| Leverage | ||||||||
| Current ratio | 1.64 | 1.52 | 1.71 | 1.42 | 1.4 | 1.83 | 2.05 | 2.12 |
| Debt to EBITDA | 0.48 | 0.03 | 0.32 | 0.5 | 0.8 | 0.4 | 0.36 | 0.35 |
| Debt to equity | 0.19 | 0.01 | 0.11 | 0.17 | 0.26 | 0.14 | 0.11 | 0.09 |
| Interest coverage | 24.9 | 20 | 23.3 | 23.1 | 12.8 | 20.4 | 25.2 | 26.9 |
| Asset turnover | 1.48 | 1.3 | 1.15 | 1.21 | 1.33 | 1.34 | 1.26 | 1.18 |
| Return ratios | ||||||||
| Return on assets % | 12.1% | 13.4% | 12.2% | 11.5% | 10.8% | 14% | 13% | 11.2% |
| Return on capital employed % | 30.9% | 32% | 29.1% | 28.4% | 27.3% | 29% | 25% | 21.7% |
| Return on equity % | 22.9% | 24.7% | 21.3% | 21.2% | 19.1% | 21.7% | 19.2% | 16.3% |
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.