Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 76.2% | 74.7% | 77.5% | 77.9% | 79.9% | 79.8% | 80.3% |
| EBITDA margin % | 26.3% | 27.2% | 28.7% | 27.9% | 25.1% | 23.4% | 22.8% | 24.4% |
| EBIT margin % | 23.7% | 22.6% | 24.1% | 22.8% | 17.3% | 15.6% | 14.6% | 16.2% |
| PAT margin % | 16.2% | 14.9% | 18.4% | 17.5% | 12.5% | 10.6% | 10.9% | 11.6% |
| Working capital | ||||||||
| Receivable days | 66 | 55 | 45 | 40 | 39 | 38 | 41 | 38 |
| Inventory days | 17 | 44 | 59 | 68 | 64 | 58 | 65 | 51 |
| Payable days | 0 | 152 | 160 | 136 | 136 | 150 | 171 | 146 |
| NWC days | 83 | -54 | -56 | -29 | -33 | -53 | -65 | -57 |
| Leverage | ||||||||
| Current ratio | 2.45 | 2.34 | 2.98 | 1.3 | 1.14 | 1.28 | 1.18 | 1.4 |
| Debt to EBITDA | 0.09 | — | 0 | 0.75 | 0.27 | 0 | 0.05 | 0.05 |
| Debt to equity | 0.04 | — | 0 | 0.29 | 0.08 | 0 | 0.01 | 0.01 |
| Interest coverage | 355.7 | 24.2 | 32.4 | 15.1 | 8 | 8.8 | 11.3 | 11.9 |
| Asset turnover | 1.38 | 1.14 | 0.99 | 0.8 | 0.76 | 0.78 | 0.71 | 0.77 |
| Return ratios | ||||||||
| Return on assets % | 22.4% | 17% | 18.3% | 14% | 9.5% | 8.3% | 7.8% | 8.9% |
| Return on capital employed % | 44% | 40% | 36.5% | 29.3% | 17.4% | 15.5% | 14.5% | 17.3% |
| Return on equity % | 29.5% | 24.4% | 25.9% | 24.2% | 14.5% | 11.7% | 10.9% | 12.6% |
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.