Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 58.9% | 58.7% | 62% | 58.2% | 53.9% | ||
| 51.9% |
| 61.2% |
| EBITDA margin % | 19.3% | 18.3% | 19.6% | 18.9% | 16.8% | 17.4% | 17.4% |
| EBIT margin % | 14.2% | 13.5% | 15.1% | 15.3% | 14.1% | 15.6% | 16% |
| PAT margin % | 12.5% | 12.7% | 13.6% | 16.2% | 16.7% | 15.9% | 16.7% |
| Working capital | |||||||
| Receivable days | 8 | 15 | 17 | 13 | 12 | 28 | 36 |
| Inventory days | 199 | 222 | 247 | 190 | 215 | 224 | 233 |
| Payable days | 74 | 70 | 75 | 75 | 70 | 56 | 55 |
| NWC days | 134 | 167 | 189 | 128 | 157 | 196 | 215 |
| Leverage | |||||||
| Current ratio | 1.43 | 1.93 | 2 | 1.37 | 1.66 | 2.11 | 2.44 |
| Debt to EBITDA | 0.02 | 0.03 | 0.05 | 0.04 | 0.05 | 0.03 | 0.06 |
| Debt to equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 |
| Interest coverage | 18 | 16.8 | 17.7 | 28.2 | 36.7 | 103.4 | 142.1 |
| Asset turnover | 0.93 | 0.79 | 0.79 | 0.86 | 0.91 | 0.97 | 1.1 |
| Return ratios | |||||||
| Return on assets % | 11.7% | 10.1% | 10.7% | 13.9% | 15.1% | 15.4% | 18.4% |
| Return on capital employed % | 21.2% | 18.9% | 19.4% | 22.7% | 22.4% | 25% | 27.7% |
| Return on equity % | 17.6% | 14.6% | 15% | 19.5% | 20.9% | 20.4% | 24.6% |
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.