Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 41.7% | 46.2% | 39.4% | 40.3% | 42.2% | ||
| 42.7% |
| 45.4% |
| EBITDA margin % | 19.7% | 23.7% | 19.2% | 17.9% | 19.8% | 21.7% | 24.3% |
| EBIT margin % | 16.2% | 20.1% | 16% | 15% | 16.1% | 18.4% | 21.2% |
| PAT margin % | 15.1% | 17.5% | 14.4% | 13.4% | 15.3% | 17% | 19.8% |
| Working capital | |||||||
| Receivable days | — | 81 | 68 | 63 | 72 | 76 | 79 |
| Inventory days | — | 212 | 204 | 182 | 161 | 144 | 170 |
| Payable days | — | 79 | 50 | 57 | 45 | 42 | 52 |
| NWC days | — | 214 | 221 | 187 | 188 | 177 | 197 |
| Leverage | |||||||
| Current ratio | — | 4.11 | 5.66 | 5.73 | 8.07 | 7.77 | 7.46 |
| Debt to EBITDA | — | 0.28 | 0.16 | 0.17 | 0.09 | 0.04 | 0.03 |
| Debt to equity | — | 0.05 | 0.03 | 0.03 | 0.02 | 0.01 | 0.01 |
| Interest coverage | 60.5 | 34.9 | 52.3 | 53.9 | 61.9 | 111.6 | 187.3 |
| Asset turnover | — | 0.68 | 0.8 | 0.89 | 0.83 | 0.83 | 0.77 |
| Return ratios | |||||||
| Return on assets % | — | 11.9% | 11.5% | 12% | 12.7% | 14.2% | 15.2% |
| Return on capital employed % | — | 19.2% | 18.3% | 17.9% | 19.5% | 22% | 24.6% |
| Return on equity % | — | 14.4% | 13.3% | 13.8% | 14.1% | 15.6% | 16.9% |
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.