Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 85% | 83.8% | 83.9% | 83.6% | 84.1% | 83% | 83.7% |
| EBITDA margin % | 20.9% | 23.3% | 18.6% | 13.5% | 17.8% | 17.1% | 17.3% |
| EBIT margin % | 16% | 18.7% | 14.3% | 8.8% | 12.9% | 12% | 12.5% |
| PAT margin % | 8.3% | 10.6% | 8.5% | 4.3% | 6.8% | 7.3% | 7.2% |
| Working capital | |||||||
| Receivable days | — | 20 | 19 | 18 | 18 | 24 | 20 |
| Inventory days | — | 258 | 343 | 225 | 235 | 213 | 249 |
| Payable days | — | 204 | 203 | 188 | 185 | 199 | 198 |
| NWC days | — | 73 | 159 | 55 | 68 | 38 | 71 |
| Leverage | |||||||
| Current ratio | — | 1.63 | 1.32 | 1.27 | 1.3 | 1.28 | 0.93 |
| Debt to EBITDA | — | 2.04 | 2.6 | 3.8 | 2.54 | 2.91 | 2.56 |
| Debt to equity | — | 0.84 | 0.89 | 1.07 | 0.98 | 0.97 | 0.86 |
| Interest coverage | 3.7 | 5.3 | 4.8 | 3 | 3.6 | 3.5 | 4.5 |
| Asset turnover | — | 0.67 | 0.7 | 0.73 | 0.78 | 0.71 | 0.74 |
| Return ratios | |||||||
| Return on assets % | — | 7.1% | 6% | 3.2% | 5.3% | 5.2% | 5.3% |
| Return on capital employed % | — | 17% | 15.4% | 9.9% | 15% | 13.2% | 14.3% |
| Return on equity % | — | 18.8% | 15.7% | 8.9% | 14.7% | 14.3% | 14% |
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.