Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 64.6% | 68.1% | 65.4% | 63.1% | 66.6% | 68.9% | 70.7% |
| EBITDA margin % | 19.5% | 28.5% | 22.5% | 14.8% | 17.2% | 19.3% | 20.5% |
| EBIT margin % | 15% | 24.6% | 18.5% | 10.7% | 12.5% | 14.9% | 16.2% |
| PAT margin % | 13% | 21.1% | 15.3% | 7.7% | 6.8% | 8.8% | 12.3% |
| Working capital | |||||||
| Receivable days | 70 | 55 | 57 | 58 | 80 | 77 | 76 |
| Inventory days | 294 | 337 | 337 | 276 | 350 | 336 | 353 |
| Payable days | — | 140 | 101 | 83 | 110 | 111 | 122 |
| NWC days | — | 251 | 293 | 251 | 320 | 302 | 308 |
| Leverage | |||||||
| Current ratio | 2.15 | 2.96 | 3.03 | 2.87 | 2.35 | 2.5 | 2.76 |
| Debt to EBITDA | 0.46 | 0.16 | 0.6 | 1.57 | 1.05 | 0.75 | 0.36 |
| Debt to equity | 0.11 | 0.05 | 0.14 | 0.25 | 0.22 | 0.19 | 0.09 |
| Interest coverage | 46.3 | 154.6 | 148.7 | 17.4 | 7.9 | 16.7 | 22.8 |
| Asset turnover | 0.88 | 0.89 | 0.76 | 0.72 | 0.69 | 0.76 | 0.78 |
| Return ratios | |||||||
| Return on assets % | 11.5% | 18.8% | 11.6% | 5.6% | 4.7% | 6.7% | 9.6% |
| Return on capital employed % | 19.4% | 31.6% | 20.6% | 12.2% | 14% | 15.7% | 17.8% |
| Return on equity % | 16.7% | 24.3% | 16.2% | 8.2% | 8.3% | 11.3% | 14.7% |
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.