Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.6% | 54.9% | 56% | 55.8% | 54.3% | 55.1% | 54.6% | 53.6% |
| EBITDA margin % | 17% | 16.8% | 19.8% | 19.9% | 19.7% | 19.3% | 18.3% | 18.7% |
| EBIT margin % | 14.2% | 13.1% | 16.5% | 17.3% | 17.3% | 16.7% | 15% | 15.2% |
| PAT margin % | 10.6% | 11.6% | 14.5% | 14.7% | 14.2% | 14.3% | 13.2% | 13.6% |
| Working capital | ||||||||
| Receivable days | 47 | 47 | 45 | — | 40 | 49 | 47 | 47 |
| Inventory days | 169 | 155 | 163 | — | 146 | 147 | 140 | 123 |
| Payable days | 93 | 116 | 158 | — | 94 | 110 | 122 | 132 |
| NWC days | 123 | 87 | 50 | — | 92 | 86 | 66 | 39 |
| Leverage | ||||||||
| Current ratio | 2.98 | 2.89 | 2.86 | — | 2.67 | 2.76 | 2.85 | 2.81 |
| Debt to EBITDA | — | — | — | — | 0.04 | 0.03 | 0.01 | 0.11 |
| Debt to equity | — | — | — | — | 0.01 | 0.01 | 0 | 0.02 |
| Interest coverage | 174.6 | 55.3 | 93.8 | 97.3 | 63.5 | 66.6 | 53.5 | 69 |
| Asset turnover | 1.1 | 0.99 | 0.88 | — | 1.05 | 0.97 | 0.92 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | 11.6% | 11.5% | 12.7% | — | 15% | 13.9% | 12.1% | 12.1% |
| Return on capital employed % | 23.7% | 20.5% | 23.9% | — | 26.1% | 25.2% | 21.7% | 22.1% |
| Return on equity % | 15.4% | 15.5% | 17.4% | — | 20% | 18.7% | 16.5% | 16.4% |
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.