Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 24.5% | 26% | 30.5% | 33.4% | 34% | 32.1% | 33.9% | 33% |
| EBITDA margin % | 10.2% | 11.4% | 12% | 11% | 10.1% | 12.1% | 11.3% | 10.6% |
| EBIT margin % | 8.4% | 9.1% | 9.6% | 8.7% | 8.3% | 10.1% | 9.1% | 8.3% |
| PAT margin % | 3.5% | 4.8% | 6.2% | 5.7% | 6.1% | 7.7% | 7.1% | 5.7% |
| Working capital | ||||||||
| Receivable days | 50 | 55 | 38 | 41 | 35 | 32 | 32 | 29 |
| Inventory days | 235 | 208 | 251 | 238 | 245 | 242 | 277 | 248 |
| Payable days | 35 | 31 | 57 | 71 | 87 | 85 | 113 | 101 |
| NWC days | 250 | 232 | 233 | 208 | 193 | 189 | 196 | 176 |
| Leverage | ||||||||
| Current ratio | 1.43 | 1.52 | 1.7 | 1.78 | 1.96 | 2.08 | 1.85 | 1.76 |
| Debt to EBITDA | 4.2 | 3.1 | 2.25 | 1.73 | 1.34 | 0.56 | 0.76 | 0.84 |
| Debt to equity | 1.26 | 0.98 | 0.71 | 0.52 | 0.34 | 0.16 | 0.19 | 0.22 |
| Interest coverage | 2.5 | 3.2 | 5.6 | 7.2 | 7.5 | 10.1 | 10 | 7.6 |
| Asset turnover | 1.09 | 1.09 | 1.13 | 1.24 | 1.3 | 1.29 | 1.17 | 1.21 |
| Return ratios | ||||||||
| Return on assets % | 3.8% | 5.2% | 7% | 7.1% | 7.9% | 9.9% | 8.2% | 6.9% |
| Return on capital employed % | 22.4% | 21.9% | 21.9% | 20.1% | 20.9% | 23.1% | 21% | 20.1% |
| Return on equity % | 10.3% | 13.5% | 16.5% | 15.5% | 15.3% | 17.7% | 15.9% | 13.8% |
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.