Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.6% | 65% | 61.6% | 61% | 63.7% | 65.8% | 67.6% | 66.1% |
| EBITDA margin % | — | 18.7% | 22.2% | 20.9% | 22.1% | 24.4% | 25.9% | 20.9% |
| EBIT margin % | — | 11.9% | 16.6% | 16.1% | 16.9% | 20.3% | 21.9% | 16.6% |
| PAT margin % | 9.1% | 8.8% | 12.5% | 11.7% | 12.5% | 16.1% | 19.1% | 13.7% |
| Working capital | ||||||||
| Receivable days | 93 | 83 | 66 | 57 | 65 | 68 | 73 | 73 |
| Inventory days | 250 | 267 | 232 | 230 | 228 | 217 | 231 | 252 |
| Payable days | 2 | 5 | 3 | 8 | 109 | 102 | 116 | 123 |
| NWC days | 341 | 345 | 294 | 280 | 184 | 182 | 188 | 202 |
| Leverage | ||||||||
| Current ratio | 3.29 | 2.66 | 2.87 | 2.99 | 3.34 | 3.7 | 4.24 | 3.44 |
| Debt to EBITDA | — | 0.88 | 0.41 | 0.18 | 0.1 | 0.04 | 0.01 | 0.04 |
| Debt to equity | 0.29 | 0.18 | 0.1 | 0.04 | 0.02 | 0.01 | 0 | 0.01 |
| Interest coverage | 2.8 | 12 | 21.5 | 35.6 | 39.5 | 66.6 | 111 | 102.1 |
| Asset turnover | 0.68 | 0.72 | 0.76 | 0.8 | 0.77 | 0.79 | 0.74 | 0.66 |
| Return ratios | ||||||||
| Return on assets % | 6.2% | 6.3% | 9.5% | 9.4% | 9.6% | 12.7% | 14.1% | 9.1% |
| Return on capital employed % | 2.4% | 12% | 17.3% | 17.7% | 18.6% | 23.1% | 23.2% | 16.5% |
| Return on equity % | 9.9% | 9.5% | 13% | 12.2% | 12.1% | 15.6% | 16.9% | 11.2% |
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.