Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 78.2% | 77.5% | 74.9% | 75.9% | 77.8% | 79.7% | 80.4% | 80.7% |
| EBITDA margin % | 24.4% | 25.8% | 27.6% | 26.9% | 24.3% | 27.4% | 28.3% | 28.3% |
| EBIT margin % | 21.2% | 20.4% | 22.7% | 21.7% | 16.8% | 20.9% | 22.5% | 22.5% |
| PAT margin % | 16.7% | 17.1% | 18.8% | 16.8% | 12% | 16.3% | 20% | 18.5% |
| Working capital | ||||||||
| Receivable days | 16 | 14 | 15 | 15 | 13 | 13 | 13 | 15 |
| Inventory days | 40 | 70 | 39 | 38 | 28 | 30 | 27 | 30 |
| Payable days | 111 | 144 | 132 | 107 | 127 | 151 | 151 | 123 |
| NWC days | -55 | -60 | -78 | -54 | -87 | -108 | -110 | -79 |
| Leverage | ||||||||
| Current ratio | 5.88 | 3.93 | 4.18 | 1.75 | 2.07 | 2.42 | 3.39 | 3.48 |
| Debt to EBITDA | — | 0 | 0 | 0.62 | 0.48 | 0.14 | 0 | 0 |
| Debt to equity | — | 0 | 0 | 0.23 | 0.14 | 0.05 | 0 | 0 |
| Interest coverage | 376.8 | 21.3 | 25.7 | 16.7 | 10.2 | 18.2 | 29 | 31.7 |
| Asset turnover | 1.1 | 0.97 | 0.95 | 0.89 | 0.85 | 0.91 | 0.91 | 0.88 |
| Return ratios | ||||||||
| Return on assets % | 18.4% | 16.6% | 17.8% | 14.9% | 10.1% | 14.8% | 18.1% | 16.2% |
| Return on capital employed % | 34.4% | 31% | 32.4% | 31.2% | 20.2% | 27.4% | 30.1% | 28.8% |
| Return on equity % | 21.2% | 22% | 23.8% | 23.2% | 14.5% | 19.6% | 22.7% | 20.3% |
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.