Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 84.4% | 84% | 80.3% | 80.8% | 79.1% | 81.1% | 75.3% | 74.6% |
| EBITDA margin % | 35.1% | 34.3% | 35.5% | 36% | 31.9% | 33.6% | 35.2% | 35.8% |
| EBIT margin % | 31.4% | 29.6% | 32% | 31.2% | 24.9% | 24.5% | 24.3% | 26.9% |
| PAT margin % | 29.6% | 27.6% | 29.3% | 30.1% | 22.2% | 19.8% | 13% | 20.7% |
| Working capital | ||||||||
| Receivable days | 31 | 53 | 42 | 44 | 63 | 77 | 58 | 79 |
| Inventory days | 196 | 148 | 145 | 166 | 136 | 182 | 171 | 200 |
| Payable days | — | — | 157 | 166 | 129 | 258 | 170 | 151 |
| NWC days | — | — | 30 | 44 | 70 | 0 | 59 | 129 |
| Leverage | ||||||||
| Current ratio | 1.9 | 2.91 | 2.8 | 3.14 | 1.73 | 0.91 | 0.91 | 0.74 |
| Debt to EBITDA | 0 | 0 | 0 | 0.09 | 1.55 | 4.05 | 2.44 | 2.06 |
| Debt to equity | 0 | 0 | 0 | 0.02 | 0.38 | 1.06 | 0.87 | 0.59 |
| Interest coverage | 14.9 | 154.4 | 220.2 | 107.6 | 16.5 | 6.1 | 3.1 | 4.4 |
| Asset turnover | 0.63 | 0.69 | 0.66 | 0.59 | 0.46 | 0.29 | 0.41 | 0.42 |
| Return ratios | ||||||||
| Return on assets % | 18.7% | 19.1% | 19.4% | 17.9% | 10.2% | 5.6% | 5.3% | 8.8% |
| Return on capital employed % | 27.4% | 25.3% | 25.9% | 23.9% | 16.3% | 13.3% | 14.2% | 15.5% |
| Return on equity % | 25.3% | 22.9% | 22.5% | 21.3% | 17% | 15.4% | 13.1% | 16.6% |
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.