Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 52.5% | 50.9% | 45.5% | 55% | 53% | 49.2% | 50.6% | 50.9% |
| EBITDA margin % | 17.6% | 15.4% | 13.9% | 18.2% | 13.3% | 8.7% | 10.4% | 10.5% |
| EBIT margin % | 15.6% | 12.5% | 11.1% | 15.8% | 11.1% | 6% | 7.2% | 7% |
| PAT margin % | 11.6% | 9.3% | 8.1% | 10.8% | 7.5% | 3.9% | 4.7% | 6% |
| Working capital | ||||||||
| Receivable days | — | — | 23 | 34 | 26 | 21 | 26 | 28 |
| Inventory days | — | — | 145 | 190 | 153 | 168 | 162 | 162 |
| Payable days | — | — | 57 | 79 | 65 | 65 | 69 | 64 |
| NWC days | — | — | 111 | 144 | 114 | 124 | 120 | 126 |
| Leverage | ||||||||
| Current ratio | — | — | 2.27 | 2.18 | 1.84 | 1.62 | 1.57 | 1.49 |
| Debt to EBITDA | — | — | 1.26 | 0.84 | 1.02 | 2.1 | 1.81 | 1.88 |
| Debt to equity | — | — | 0.31 | 0.27 | 0.26 | 0.32 | 0.34 | 0.36 |
| Interest coverage | 10.9 | 6.6 | 8.3 | 19.3 | 27.8 | 9 | 7 | 6.8 |
| Asset turnover | — | — | 1.07 | 1.05 | 1.13 | 0.99 | 1 | 1.01 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.7% | 11.4% | 8.5% | 3.9% | 4.7% | 6.1% |
| Return on capital employed % | — | — | 16.9% | 25.4% | 19.3% | 9.3% | 11.6% | 12% |
| Return on equity % | — | — | 14.5% | 19.4% | 14.7% | 6.9% | 8.6% | 11.1% |
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.