Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.8% | 62.5% | 61.4% | 59.9% | 60.2% | 59% | 58% | 59.7% |
| EBITDA margin % | 22.9% | 23.6% | 24.4% | 23.2% | 25% | 23.9% | 18.8% | 18.4% |
| EBIT margin % | 18.5% | 18.9% | 18.4% | 17.4% | 20% | 20% | 15% | 14.5% |
| PAT margin % | 17% | 13.5% | 14.3% | 15.7% | 17.4% | 15.2% | 23.5% | 9.1% |
| Working capital | ||||||||
| Receivable days | 98 | 93 | 101 | 89 | 89 | 82 | 79 | 89 |
| Inventory days | 368 | 316 | 311 | 235 | 231 | 250 | 224 | 271 |
| Payable days | 8 | 9 | 59 | 60 | 65 | 72 | 62 | 78 |
| NWC days | 458 | 400 | 352 | 265 | 255 | 260 | 241 | 283 |
| Leverage | ||||||||
| Current ratio | 3.2 | 2.78 | 4.49 | 4.42 | 4.16 | 3.54 | 3.65 | 3.26 |
| Debt to EBITDA | 0 | — | 0 | 0 | 0.02 | 0.02 | 0.02 | 0.02 |
| Debt to equity | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 122.6 | 43.6 | 31.1 | 44.1 | 45.6 | 43.1 | 19.9 | 20.4 |
| Asset turnover | 0.7 | 0.76 | 0.7 | 0.79 | 0.81 | 0.83 | 0.84 | 0.83 |
| Return ratios | ||||||||
| Return on assets % | 11.8% | 10.3% | 10% | 12.4% | 14.1% | 12.6% | 19.7% | 7.5% |
| Return on capital employed % | 16.5% | 18.9% | 16.8% | 17.7% | 21.9% | 22.6% | 17.9% | 16.1% |
| Return on equity % | 14.8% | 13.1% | 12.5% | 15.6% | 18% | 16.3% | 24.3% | 9.6% |
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.