Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.5% | 65.9% | 65.9% | 65.2% | 63.2% | 63.9% | 63.3% | 60.9% |
| EBITDA margin % | 16.3% | 15.3% | 17.7% | 16.1% | 14% | 15.7% | 14.5% | 11.1% |
| EBIT margin % | 12.3% | 11.3% | 13.9% | 12.7% | 10% | 11.7% | 10.2% | 6.4% |
| PAT margin % | 9.2% | 10.6% | 11.1% | 10.5% | 9.5% | 10.1% | 6.1% | 3.2% |
| Working capital | ||||||||
| Receivable days | — | 56 | 66 | 53 | 49 | 53 | 57 | 62 |
| Inventory days | — | 209 | 187 | 218 | 191 | 183 | 215 | 200 |
| Payable days | — | 80 | 123 | 117 | 72 | 86 | 71 | 76 |
| NWC days | — | 185 | 130 | 154 | 169 | 150 | 201 | 187 |
| Leverage | ||||||||
| Current ratio | — | 3.79 | 3.67 | 2.13 | 2.74 | 3.2 | 3.35 | 2.67 |
| Debt to EBITDA | — | 0.15 | 0.09 | 0.4 | 0.35 | 0.15 | 0.17 | 0.53 |
| Debt to equity | — | 0.03 | 0.02 | 0.09 | 0.08 | 0.04 | 0.03 | 0.08 |
| Interest coverage | 42.1 | 53.6 | 111 | 81.9 | 23 | 34.1 | 38.7 | 21.5 |
| Asset turnover | — | 1.13 | 0.98 | 1 | 1.19 | 1.13 | 1.05 | 0.98 |
| Return ratios | ||||||||
| Return on assets % | — | 12% | 10.9% | 10.5% | 11.3% | 11.5% | 6.4% | 3.2% |
| Return on capital employed % | — | 17.5% | 19.1% | 19.4% | 18.9% | 18.8% | 14.6% | 9.9% |
| Return on equity % | — | 14.8% | 13.7% | 14.8% | 15.7% | 15.2% | 8.5% | 4.3% |
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.