Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 97.2% | 97.8% | 97.8% | 98.4% | 98% | 98.4% | 98.3% | 98% |
| EBITDA margin % | 23.1% | 24.5% | 26.6% | 24% | 22.3% | 22% | 21.8% | 20.6% |
| EBIT margin % | 19.6% | 19.7% | 20.5% | 18.9% | 18.2% | 18.2% | 18.3% | 17.2% |
| PAT margin % | 14.4% | 15.6% | 14.8% | 15.8% | 14.6% | 14.3% | 14.9% | 12.8% |
| Working capital | ||||||||
| Receivable days | — | 73 | 66 | 88 | 92 | 85 | 81 | 88 |
| Inventory days | — | 22 | 20 | 42 | 42 | 38 | 24 | 33 |
| Payable days | — | 277 | 372 | 1,630 | 1,170 | 1,189 | 1,120 | 1,078 |
| NWC days | — | -182 | -285 | -1,500 | -1,037 | -1,067 | -1,016 | -956 |
| Leverage | ||||||||
| Current ratio | — | 1.62 | 2.48 | 2.56 | 2.5 | 2.61 | 2.22 | 2.22 |
| Debt to EBITDA | — | 0.27 | 0.19 | 0.19 | 0.1 | 0.1 | 0.09 | 0.01 |
| Debt to equity | — | 0.09 | 0.07 | 0.06 | 0.03 | 0.03 | 0.03 | 0 |
| Interest coverage | 73.5 | 28.7 | 32 | 54.1 | 56.2 | 38.9 | 37.1 | 27.5 |
| Asset turnover | 1.03 | 0.85 | 0.87 | 0.96 | 1.09 | 1.1 | 1.11 | 1.12 |
| Return ratios | ||||||||
| Return on assets % | 14.9% | 13.3% | 13% | 15.2% | 15.9% | 15.7% | 16.5% | 14.3% |
| Return on capital employed % | — | 24.5% | 25.6% | 24.8% | 27.9% | 28.9% | 30.9% | 29.6% |
| Return on equity % | 21% | 21.6% | 18.6% | 21.8% | 22.7% | 23% | 25% | 22.2% |
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.