Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 18.5% | 19.3% | 17.9% | |||||
| 14.1% |
| 16.7% |
| 16.4% |
| 15.8% |
| 15% |
| EBITDA margin % | 6.4% | 5.7% | 5.8% | 6.1% | 9.7% | 9.5% | 9.2% | 8.4% |
| EBIT margin % | 6.2% | 4.9% | 5% | 5.5% | 9.3% | 9% | 8.7% | 8% |
| PAT margin % | 3.7% | 4.8% | 4.3% | 4.6% | 7.3% | 7.5% | 7.5% | 6.7% |
| Working capital | ||||||||
| Receivable days | 95 | — | 89 | 92 | 94 | 100 | 96 | 103 |
| Inventory days | 52 | — | 56 | 45 | 52 | 29 | 24 | 29 |
| Payable days | 75 | — | 92 | 92 | 86 | 0 | 81 | 75 |
| NWC days | 71 | — | 53 | 45 | 60 | 129 | 40 | 57 |
| Leverage | ||||||||
| Current ratio | 2.31 | — | 2.4 | 2.27 | 2.38 | 40.82 | 2.59 | 2.56 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 519.1 | 63.4 | 50.3 | 117.1 | 114.9 | 126.4 | 187.2 | 106.3 |
| Asset turnover | 2.09 | — | 1.68 | 1.79 | 1.88 | 1.78 | 1.85 | 1.93 |
| Return ratios | ||||||||
| Return on assets % | 7.7% | — | 7.3% | 8.3% | 13.7% | 13.3% | 13.9% | 12.8% |
| Return on capital employed % | 22.2% | — | 16.1% | 20% | 34% | 23.5% | 24.3% | 28.5% |
| Return on equity % | 12.6% | — | 11.8% | 14% | 22.8% | 21.3% | 21.9% | 20.6% |
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.