Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 31.7% | 33.9% | 33.8% | 31.2% | 27.4% | 31.2% | 29.2% | 30.4% |
| EBITDA margin % | 11.6% | 11.4% | 16.1% | 13.1% | 9.2% | 13.2% | 11.4% | 13% |
| EBIT margin % | 10.2% | 9.6% | 14.4% | 11.3% | 7.4% | 11.3% | 9% | 10.8% |
| PAT margin % | 7.6% | 8.1% | 12.4% | 10.2% | 7.6% | 11.9% | 12.4% | 20.8% |
| Working capital | ||||||||
| Receivable days | 54 | — | 34 | 40 | 51 | 48 | 47 | 38 |
| Inventory days | 70 | — | 56 | 62 | 73 | 73 | 70 | 67 |
| Payable days | 103 | — | 94 | 66 | 75 | 72 | 83 | 100 |
| NWC days | 21 | — | -3 | 37 | 49 | 49 | 35 | 5 |
| Leverage | ||||||||
| Current ratio | 1.44 | — | 2.73 | 5.02 | 2.85 | 3.14 | 2.74 | 3.25 |
| Debt to EBITDA | 0.37 | — | 0 | 0 | 0 | 0 | 0 | 0.02 |
| Debt to equity | 0.09 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 37.3 | 37.9 | 87.6 | 69.3 | 68.5 | 101.9 | 47.4 | 88.5 |
| Asset turnover | 1.25 | — | 1.02 | 0.79 | 0.84 | 0.79 | 0.78 | 0.73 |
| Return ratios | ||||||||
| Return on assets % | 9.6% | — | 12.7% | 8.1% | 6.3% | 9.3% | 9.7% | 15.2% |
| Return on capital employed % | 26.9% | — | 22.5% | 16% | 11.3% | 15.7% | 13.8% | 15.4% |
| Return on equity % | 15.8% | — | 17.3% | 9.7% | 7.8% | 11.4% | 12.2% | 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.