Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 83.1% | 80.1% | 75.1% | 71.2% | 76.8% | 82.1% | 84.4% | 83.1% |
| EBITDA margin % | 38% | 30.4% | 29.5% | 13.6% | 34.6% | 43.8% | 49.6% | 35.2% |
| EBIT margin % | 34.1% | 25.2% | 23.8% | 6.2% | 28.5% | 39.1% | 44.3% | 30.2% |
| PAT margin % | 30.7% | 23.9% | 21.6% | 8.7% | 26.4% | 34.7% | 42.5% | 34.8% |
| Working capital | ||||||||
| Receivable days | 88 | — | 73 | 116 | 115 | 109 | 103 | 79 |
| Inventory days | 545 | — | 570 | 496 | 432 | 357 | 405 | 480 |
| Payable days | — | — | 104 | 105 | 153 | 120 | 145 | 216 |
| NWC days | — | — | 539 | 507 | 394 | 345 | 362 | 343 |
| Leverage | ||||||||
| Current ratio | 3.22 | — | 4.46 | 3.5 | 4.39 | 4.14 | 5.59 | 3.01 |
| Debt to EBITDA | 0.49 | — | 0.44 | 1.53 | 0.18 | 0.21 | 0.12 | 0.49 |
| Debt to equity | 0.11 | — | 0.06 | 0.09 | 0.03 | 0.06 | 0.04 | 0.08 |
| Interest coverage | 43.7 | 27.5 | 44.6 | 12.4 | 60.4 | 88.2 | 96.9 | 41.6 |
| Asset turnover | 0.49 | — | 0.43 | 0.38 | 0.48 | 0.58 | 0.51 | 0.37 |
| Return ratios | ||||||||
| Return on assets % | 14.9% | — | 9.2% | 3.3% | 12.6% | 20.1% | 21.8% | 12.8% |
| Return on capital employed % | 25.2% | — | 13.9% | 5.1% | 18.7% | 31% | 34% | 17.9% |
| Return on equity % | 18.4% | — | 10.7% | 4% | 14.7% | 23.7% | 24.8% | 15.4% |
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.