Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 57% | 58.1% | 58.2% | 55.8% | 54.7% | 57.7% | 58.8% | 59.8% |
| EBITDA margin % | 18.4% | 20.2% | 19.8% | 16.8% | 15.6% | 18.2% | 19.8% | 20.3% |
| EBIT margin % | 11.6% | 11.9% | 12.2% | 9.5% | 8% | 9.7% | 11.7% | 12.2% |
| PAT margin % | 7.2% | 7.7% | 7.9% | 6.5% | 6.3% | 5.4% | 8.6% | 8.3% |
| Working capital | ||||||||
| Receivable days | 67 | 65 | 70 | 68 | 64 | 65 | 61 | 67 |
| Inventory days | 101 | 116 | 117 | 143 | 133 | 144 | 151 | 177 |
| Payable days | — | 112 | 119 | 109 | 109 | 125 | 125 | 147 |
| NWC days | — | 70 | 67 | 101 | 87 | 85 | 87 | 97 |
| Leverage | ||||||||
| Current ratio | 1.89 | 1.69 | 1.74 | 1.71 | 1.69 | 1.52 | 1.51 | 1.56 |
| Debt to EBITDA | 1.17 | 0.94 | 0.91 | 1.14 | 1.33 | 1.13 | 0.8 | 0.73 |
| Debt to equity | 0.42 | 0.34 | 0.33 | 0.36 | 0.39 | 0.38 | 0.29 | 0.25 |
| Interest coverage | 5.6 | 6.1 | 9.1 | 8.4 | 5 | 3.8 | 4.7 | 5.4 |
| Asset turnover | 1.07 | 0.98 | 1.03 | 1.04 | 1.02 | 1.03 | 1.05 | 0.97 |
| Return ratios | ||||||||
| Return on assets % | 7.8% | 7.5% | 8.1% | 6.7% | 6.4% | 5.5% | 9.1% | 8% |
| Return on capital employed % | 18.4% | 17.2% | 18.4% | 14.5% | 13.4% | 16.3% | 19.2% | 19.5% |
| Return on equity % | 14.1% | 13.8% | 14.4% | 12.1% | 11.6% | 10% | 15.4% | 13.8% |
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.