Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 31.8% | 36.2% | 43% | 47.7% | 46.6% | 50.4% | 48.9% | 54.2% |
| EBITDA margin % | 17.6% | 17.9% | 18.5% | 15.8% | 15.6% | 19.6% | 15.7% | 17.7% |
| EBIT margin % | 16.6% | 16.1% | 15.5% | 13.5% | 13.1% | 16.1% | 12% | 14.1% |
| PAT margin % | 14.1% | 13.8% | 12.8% | 3.1% | 10.2% | 10.6% | 11.2% | 14.5% |
| Working capital | ||||||||
| Receivable days | 187 | 290 | 293 | 192 | 187 | 192 | 198 | 204 |
| Inventory days | 46 | 62 | 110 | 116 | 94 | 113 | 111 | 129 |
| Payable days | — | — | 82 | 86 | 79 | 58 | 63 | 89 |
| NWC days | — | — | 321 | 221 | 202 | 247 | 246 | 244 |
| Leverage | ||||||||
| Current ratio | 3.35 | 3.34 | 3.76 | 3.33 | 3.61 | 5.08 | 4.77 | 4.02 |
| Debt to EBITDA | 0.61 | 0.84 | 1.11 | 0.89 | 0.84 | 0.58 | 0.56 | 0.02 |
| Debt to equity | 0.15 | 0.14 | 0.15 | 0.13 | 0.11 | 0.09 | 0.07 | 0 |
| Interest coverage | 42.3 | 27.3 | 19.9 | 28 | 11.2 | 22.1 | 16.5 | 17 |
| Asset turnover | 0.99 | 0.67 | 0.54 | 0.67 | 0.65 | 0.63 | 0.62 | 0.62 |
| Return ratios | ||||||||
| Return on assets % | 14% | 9.3% | 6.9% | 2.1% | 6.6% | 6.7% | 6.9% | 9% |
| Return on capital employed % | 30.9% | 19.8% | 13.1% | 15.2% | 12.7% | 15.2% | 12.3% | 17.1% |
| Return on equity % | 19.6% | 12.9% | 9.2% | 2.8% | 8.7% | 8.4% | 8.6% | 11.3% |
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.