Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 55.2% | 55% | 48.8% | 52.7% | 54.3% | 53% | 52.7% |
| EBITDA margin % | 14.7% | 13.5% | 12.9% | 15.8% | 16.2% | 16.1% | 15.6% |
| EBIT margin % | 12.6% | 10.4% | 9.7% | 13.6% | 14.4% | 14.2% | 13.5% |
| PAT margin % | 8.5% | 9% | 8.2% | 10.6% | 11.7% | 12.8% | 12.9% |
| Working capital | |||||||
| Receivable days | 81 | — | 62 | 42 | 38 | 39 | 51 |
| Inventory days | 130 | — | 116 | 157 | 169 | 150 | 164 |
| Payable days | 67 | — | 90 | 101 | 92 | 74 | 75 |
| NWC days | 144 | — | 88 | 97 | 116 | 116 | 140 |
| Leverage | |||||||
| Current ratio | — | — | 2.42 | 3.08 | 3.24 | 3.74 | 3.82 |
| Debt to EBITDA | 0.42 | — | 0.53 | 0.12 | 0.09 | 0.07 | 0.06 |
| Debt to equity | 0.12 | — | 0.1 | 0.03 | 0.02 | 0.02 | 0.01 |
| Interest coverage | 22.1 | 14.4 | 14.8 | 41.7 | 48.9 | 56.1 | 42.7 |
| Asset turnover | 1.13 | — | 0.89 | 0.93 | 1.08 | 1.02 | 1.03 |
| Return ratios | |||||||
| Return on assets % | 9.7% | — | 7.3% | 9.9% | 12.6% | 13.1% | 13.4% |
| Return on capital employed % | — | — | 14.3% | 19.8% | 23.7% | 23.7% | 21.6% |
| Return on equity % | 16.4% | — | 11.5% | 15.1% | 18% | 17.9% | 18.4% |
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.