Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.6% | 40.3% | 41.9% | 38% | 41.2% | 43.4% | 40.9% | 41.9% |
| EBITDA margin % | 15.7% | 15.9% | 19.1% | 15.6% | 17.4% | 18.9% | 17.8% | 18.5% |
| EBIT margin % | 14.2% | 14.3% | 17.6% | 14.2% | 16% | 17.1% | 16% | 16.7% |
| PAT margin % | 10.5% | 12% | 14.1% | 10.7% | 14.2% | 12.7% | 12.1% | 13.3% |
| Working capital | ||||||||
| Receivable days | 13 | 10 | 7 | 9 | 7 | 9 | 9 | 9 |
| Inventory days | 43 | 39 | 52 | 57 | 45 | 45 | 43 | 44 |
| Payable days | 63 | 55 | 63 | 55 | 55 | 63 | 60 | 62 |
| NWC days | -7 | -6 | -3 | 10 | -2 | -9 | -9 | -9 |
| Leverage | ||||||||
| Current ratio | 1.9 | 1.43 | 1.22 | 0.96 | 1.14 | 1.19 | 1.08 | 1.12 |
| Debt to EBITDA | 0.08 | 0.82 | 0.84 | 1.12 | 1.05 | 0.64 | 0.38 | 0.38 |
| Debt to equity | 0.03 | 0.34 | 0.59 | 0.96 | 0.84 | 0.52 | 0.28 | 0.27 |
| Interest coverage | 195.6 | 25.2 | 23.7 | 15.4 | 16.7 | 18.8 | 22.3 | 30.4 |
| Asset turnover | 1.77 | 1.48 | 1.64 | 1.88 | 1.74 | 1.85 | 2.03 | 1.97 |
| Return ratios | ||||||||
| Return on assets % | 18.5% | 17.8% | 23.1% | 20.1% | 24.8% | 23.5% | 24.6% | 26.1% |
| Return on capital employed % | 44.8% | 40.1% | 54.3% | 57.2% | 65.6% | 60.4% | 60.7% | 63.7% |
| Return on equity % | 27.2% | 31.7% | 52.2% | 59.3% | 65.5% | 54.1% | 50% | 49.7% |
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.