Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.5% | 33.9% | 36.3% | 29.8% | 30.3% | 32.1% | 31.7% | 25.4% |
| EBITDA margin % | 12.8% | 14.2% | 16.1% | 10.9% | 12.8% | 12.2% | 11.5% | 9.1% |
| EBIT margin % | 10.9% | 11.8% | 13.5% | 8.9% | 10.9% | 9.6% | 8.9% | 6.7% |
| PAT margin % | 6.9% | 8.9% | 10.9% | 7.1% | 8.6% | 8% | 7.2% | 5.1% |
| Working capital | ||||||||
| Receivable days | 56 | 62 | 61 | 63 | 50 | 57 | 59 | 52 |
| Inventory days | 66 | 69 | 88 | 100 | 76 | 79 | 92 | 74 |
| Payable days | 2 | 1 | 78 | 73 | 51 | 63 | 78 | 61 |
| NWC days | 121 | 130 | 72 | 90 | 76 | 73 | 72 | 65 |
| Leverage | ||||||||
| Current ratio | 1.61 | 1.64 | 1.87 | 1.81 | 2.37 | 2.84 | 2.15 | 2.42 |
| Debt to EBITDA | 0.72 | 0.87 | 0.6 | 0.91 | 0.48 | 0.28 | 0.29 | 0.35 |
| Debt to equity | 0.29 | 0.3 | 0.21 | 0.23 | 0.14 | 0.06 | 0.06 | 0.06 |
| Interest coverage | 10.2 | 13.1 | 28.7 | 26.6 | 22.8 | 17.8 | 20.8 | 12.1 |
| Asset turnover | 1.76 | 1.43 | 1.36 | 1.42 | 1.63 | 1.3 | 1.22 | 1.35 |
| Return ratios | ||||||||
| Return on assets % | 12.2% | 12.7% | 14.7% | 10.1% | 13.9% | 10.3% | 8.8% | 6.9% |
| Return on capital employed % | 33.4% | 27.8% | 28.9% | 21.6% | 26.1% | 18.2% | 16.7% | 14% |
| Return on equity % | 21.8% | 21.6% | 23.2% | 16.7% | 20.2% | 13.8% | 12.9% | 9.7% |
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.