Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.7% | 46.4% | 46.6% | 46.3% | 49.6% | 51.2% | 51.1% | 51% |
| EBITDA margin % | 10.3% | 7.4% | 11.2% | 11.6% | 14.2% | 15.1% | 15% | 14.7% |
| EBIT margin % | 7.5% | 3.9% | 7.3% | 8.6% | 11.7% | 12.7% | 12.8% | 12.5% |
| PAT margin % | 5.5% | 2.3% | 5.3% | 7.1% | 12.2% | 9.7% | 10% | 10.9% |
| Working capital | ||||||||
| Receivable days | 72 | 69 | 76 | 68 | 66 | 68 | 63 | 67 |
| Inventory days | 99 | 128 | 122 | 130 | 143 | 145 | 129 | 134 |
| Payable days | 87 | — | — | 86 | 75 | 80 | 72 | 87 |
| NWC days | 83 | — | — | 112 | 135 | 133 | 121 | 114 |
| Leverage | ||||||||
| Current ratio | 1.58 | 1.42 | 1.51 | 1.65 | 1.79 | 1.92 | 2.1 | 2.08 |
| Debt to EBITDA | 1.01 | 2.87 | 1.85 | 1.18 | 1.18 | 1.15 | 0.94 | 0.7 |
| Debt to equity | 0.25 | 0.51 | 0.46 | 0.34 | 0.37 | 0.35 | 0.26 | 0.18 |
| Interest coverage | 16.7 | 5.4 | 12.2 | 24.6 | 21.4 | 15.8 | 16.6 | 24.1 |
| Asset turnover | 1.35 | 1.18 | 1.09 | 1.28 | 1.22 | 1.14 | 1.15 | 1.11 |
| Return ratios | ||||||||
| Return on assets % | 7.4% | 2.7% | 5.8% | 9.1% | 14.8% | 11.1% | 11.5% | 12.1% |
| Return on capital employed % | 18.5% | 9.4% | 17% | 25.1% | 32% | 29% | 27.6% | 28.4% |
| Return on equity % | 13.4% | 5.5% | 11.8% | 17.3% | 27% | 19.4% | 18.8% | 19.3% |
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.