Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 45.2% | 48.8% | 46.9% | 42.9% | 45.2% | 50.8% | 50.3% | 44.5% |
| EBITDA margin % | 17.5% | 20.1% | 19.8% | 17.7% | 18.5% | 21% | 19.8% | 17.1% |
| EBIT margin % | 16.2% | 18.2% | 18% | 16.2% | 17% | 19.4% | 18.1% | 15.6% |
| PAT margin % | 15.5% | 14.3% | 14.9% | 13.2% | 13.5% | 15.6% | 15.3% | 13.3% |
| Working capital | ||||||||
| Receivable days | — | 27 | 18 | 25 | 38 | 40 | 43 | 35 |
| Inventory days | — | 134 | 96 | 95 | 84 | 103 | 84 | 78 |
| Payable days | — | 93 | 97 | 90 | 99 | 122 | 92 | 79 |
| NWC days | — | 69 | 17 | 30 | 22 | 22 | 34 | 34 |
| Leverage | ||||||||
| Current ratio | 1.87 | 1.8 | 1.65 | 1.63 | 1.57 | 1.64 | 2.07 | 1.43 |
| Debt to EBITDA | 0.02 | 0.23 | 0.22 | 0.21 | 0.26 | 0.19 | 0.18 | 0.15 |
| Debt to equity | 0.01 | 0.11 | 0.11 | 0.1 | 0.13 | 0.1 | 0.1 | 0.08 |
| Interest coverage | 53.7 | 29.1 | 45.5 | 42.1 | 32.1 | 27.5 | 40.9 | 44 |
| Asset turnover | 1.73 | 1.47 | 1.46 | 1.64 | 1.41 | 1.3 | 1.3 | 1.35 |
| Return ratios | ||||||||
| Return on assets % | 26.8% | 21% | 21.8% | 21.7% | 19% | 20.2% | 19.9% | 18% |
| Return on capital employed % | 47.9% | 48.7% | 46.1% | 46% | 44.1% | 42.3% | 40% | 39.3% |
| Return on equity % | 37.5% | 34.4% | 37% | 37.5% | 34.8% | 39.2% | 41.7% | 43.1% |
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.