Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 52.1% | 54.4% | 54.4% | |||||
| 54.2% |
| 56.9% |
| 54.7% |
| 55.8% |
| 58.5% |
| EBITDA margin % | 21.9% | 24.8% | 26.2% | 24.4% | 26.5% | 19.3% | 22.7% | 32.6% |
| EBIT margin % | 19.2% | 21.3% | 22.5% | 21.1% | 23.5% | 14.6% | 17.6% | 28.1% |
| PAT margin % | 14.8% | 38.5% | 21.8% | 18.1% | 18.1% | 13.1% | 12.3% | 20% |
| Working capital | ||||||||
| Receivable days | 63 | 75 | 88 | 90 | 99 | 91 | 90 | 83 |
| Inventory days | 86 | 119 | 122 | 141 | 191 | 145 | 113 | 118 |
| Payable days | 5 | 7 | 73 | 80 | 99 | 118 | 115 | 140 |
| NWC days | 144 | 188 | 137 | 151 | 190 | 118 | 89 | 61 |
| Leverage | ||||||||
| Current ratio | 3.17 | 4.39 | 5.91 | 2.65 | 2.81 | 1.81 | 1.74 | 2.61 |
| Debt to EBITDA | 0.02 | 0.01 | 0.01 | 0.29 | 1.54 | 3.36 | 2.7 | 1.13 |
| Debt to equity | 0 | 0 | 0 | 0.06 | 0.39 | 0.56 | 0.55 | 0.31 |
| Interest coverage | 271.4 | 129.9 | 187 | 182.2 | 19 | 4.8 | 5.9 | 8.5 |
| Asset turnover | 0.76 | 0.65 | 0.62 | 0.61 | 0.59 | 0.47 | 0.49 | 0.52 |
| Return ratios | ||||||||
| Return on assets % | 11.3% | 25.1% | 13.6% | 11% | 10.6% | 6.2% | 6% | 10.4% |
| Return on capital employed % | 20.7% | 20.1% | 21.9% | 18.7% | 20.9% | 11% | 12.3% | 21.6% |
| Return on equity % | 13.7% | 28.9% | 15.8% | 14.3% | 17.2% | 11.4% | 11% | 16.7% |
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.