Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.1% | 40.7% | 44.4% | 44.3% | 39.3% | 40.5% | 39.1% | 39.3% |
| EBITDA margin % | 18.1% | 18.6% | 23.5% | 25.3% | 20.6% | 20.4% | 19.5% | 19.1% |
| EBIT margin % | 14.2% | 14.5% | 19.3% | 22.3% | 17.8% | 17.3% | 16.3% | 15.8% |
| PAT margin % | 9.9% | 11.2% | 14.6% | 17.5% | 13.2% | 13.3% | 12.8% | 13% |
| Working capital | ||||||||
| Receivable days | 57 | 45 | 33 | 36 | 37 | 40 | 33 | 35 |
| Inventory days | 181 | 131 | 170 | 175 | 185 | 193 | 175 | 167 |
| Payable days | 0 | — | 32 | 47 | 33 | 12 | 20 | 21 |
| NWC days | 238 | — | 171 | 165 | 189 | 221 | 188 | 181 |
| Leverage | ||||||||
| Current ratio | — | — | 2.55 | 2.53 | 2.25 | 2.89 | 4.29 | 4.37 |
| Debt to EBITDA | 1.34 | 1.19 | 0.74 | 0.9 | 1.06 | 0.94 | 0.37 | 0.47 |
| Debt to equity | 22.62 | 0.4 | 0.26 | 0.34 | 0.36 | 0.27 | 0.09 | 0.1 |
| Interest coverage | 10.6 | 10.5 | 22 | 50 | 14.7 | 15 | 22.4 | 23 |
| Asset turnover | 1.14 | 1.16 | 1.08 | 0.99 | 1.11 | 1.03 | 1.07 | 0.97 |
| Return ratios | ||||||||
| Return on assets % | 11.3% | 13% | 15.8% | 17.3% | 14.5% | 13.7% | 13.7% | 12.7% |
| Return on capital employed % | — | — | 28% | 36% | 28.5% | 24.6% | 22.3% | 21.4% |
| Return on equity % | 922.5% | 20.2% | 21.9% | 26.4% | 22% | 18.5% | 16.3% | 15.2% |
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.