Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 39.1% | 38.2% | 37.3% | 38.8% | 38.7% | ||
| 38% |
| 39.3% |
| EBITDA margin % | 11.4% | 11% | 12.3% | 13.5% | 13.2% | 13.3% | 14.1% |
| EBIT margin % | 7.5% | 6.3% | 8.6% | 10% | 10.4% | 10.6% | 11.5% |
| PAT margin % | 5.4% | 3.8% | 6% | 7.6% | 8.2% | 8.5% | 9.1% |
| Working capital | |||||||
| Receivable days | 21 | 24 | 41 | 28 | 35 | 37 | 50 |
| Inventory days | 56 | 57 | 68 | 57 | 60 | 57 | 57 |
| Payable days | 73 | 83 | 97 | 53 | 56 | 56 | 61 |
| NWC days | 4 | -3 | 12 | 31 | 39 | 37 | 46 |
| Leverage | |||||||
| Current ratio | 1.06 | 1.23 | 1.54 | 2.28 | 2.47 | 2.47 | 2.61 |
| Debt to EBITDA | 0.37 | 0.39 | 0.11 | 0.1 | 0.09 | 0.07 | 0 |
| Debt to equity | 0.11 | 0.09 | 0.03 | 0.03 | 0.03 | 0.02 | 0 |
| Interest coverage | 6 | 6.9 | 16 | 26.4 | 76.9 | 178 | 123.4 |
| Asset turnover | 1.5 | 1.32 | 1.5 | 1.76 | 1.67 | 1.7 | 1.66 |
| Return ratios | |||||||
| Return on assets % | 8.1% | 5.1% | 9% | 13.3% | 13.6% | 14.4% | 15% |
| Return on capital employed % | 16.2% | 12.2% | 20.1% | 25.6% | 25.7% | 27% | 28.8% |
| Return on equity % | 14.2% | 8.2% | 14.7% | 18.4% | 18.7% | 19.7% | 21% |
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.