Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 90.9% | 91.1% | 87.3% | 87.4% | 88.4% | 86.5% | 84.5% | 89.2% |
| EBITDA margin % | 13.7% | 12.4% | 13.9% | 18% | 16.7% | 18.2% | 15.5% | 12.5% |
| EBIT margin % | 11.3% | 8.2% | 9.2% | 13.8% | 12.4% | 14.5% | 11.9% | 8.7% |
| PAT margin % | 10.3% | 7.7% | 8.8% | 11.5% | 8.6% | 9.8% | 8.8% | 6.4% |
| Working capital | ||||||||
| Receivable days | 64 | 60 | 71 | 59 | 68 | 64 | 70 | 66 |
| Inventory days | 160 | 211 | 110 | 178 | 228 | 177 | 185 | 303 |
| Payable days | 1 | — | 314 | 336 | 374 | 260 | 126 | 249 |
| NWC days | 223 | — | -133 | -99 | -78 | -19 | 128 | 119 |
| Leverage | ||||||||
| Current ratio | 2.61 | 2.24 | 2.57 | 2.3 | 1.58 | 2.15 | 3 | 2.93 |
| Debt to EBITDA | 0.51 | 0.68 | 0.55 | 0.4 | 1.21 | 0.35 | 0.19 | 0.18 |
| Debt to equity | 0.13 | 0.15 | 0.11 | 0.1 | 0.35 | 0.11 | 0.04 | 0.03 |
| Interest coverage | 20.1 | 10.7 | 12 | 18.8 | 8.3 | 9.5 | 10.5 | 13.3 |
| Asset turnover | 1.19 | 1.06 | 0.92 | 0.95 | 0.92 | 1.02 | 0.96 | 0.87 |
| Return ratios | ||||||||
| Return on assets % | 12.3% | 8.2% | 8.1% | 10.9% | 7.9% | 10% | 8.4% | 5.6% |
| Return on capital employed % | 24% | 17.4% | 16.1% | 21.4% | 20.6% | 22.3% | 16.7% | 12.4% |
| Return on equity % | 18.6% | 13.3% | 12.3% | 16.8% | 14.8% | 16.5% | 12.2% | 8.1% |
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.