Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.9% | 50.7% | 57% | 50% | 48.9% | 55.1% | 61.5% | 65% |
| EBITDA margin % | 16.9% | 20.2% | 26.4% | 19.2% | 20.3% | 19% | 21.1% | 22.1% |
| EBIT margin % | 12.2% | 14.9% | 21.7% | 15% | 16.2% | 14.4% | 16.1% | 16.6% |
| PAT margin % | 10.4% | 12.9% | 17% | 11% | 11.5% | 9% | 11.2% | 11.1% |
| Working capital | ||||||||
| Receivable days | — | — | 86 | 90 | 77 | 80 | 77 | 62 |
| Inventory days | — | — | 205 | 190 | 182 | 235 | 284 | 326 |
| Payable days | — | — | 142 | 124 | 124 | 135 | 154 | 131 |
| NWC days | — | — | 150 | 156 | 135 | 179 | 207 | 256 |
| Leverage | ||||||||
| Current ratio | — | — | 1.7 | 1.53 | 1.42 | 1.4 | 1.56 | 1.8 |
| Debt to EBITDA | — | — | 0.99 | 1.51 | 1.16 | 1.43 | 1.36 | 1.13 |
| Debt to equity | — | — | 0.39 | 0.42 | 0.37 | 0.38 | 0.35 | 0.26 |
| Interest coverage | 10.7 | 15.7 | 27.8 | 25 | 13.3 | 6.2 | 7.1 | 8 |
| Asset turnover | — | — | 0.87 | 0.83 | 0.92 | 0.82 | 0.72 | 0.7 |
| Return ratios | ||||||||
| Return on assets % | — | — | 14.8% | 9.1% | 10.5% | 7.3% | 8% | 7.7% |
| Return on capital employed % | — | — | 28.8% | 21.5% | 24.9% | 20% | 19.1% | 18.4% |
| Return on equity % | — | — | 25.3% | 16% | 18.2% | 12.6% | 13.5% | 11.7% |
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.