Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 51.4% | 51.8% | 52.4% | 52.3% | 50.1% | 49.9% | 53.2% | 55% |
| EBITDA margin % | 18.7% | 20.7% | 10.4% | 14.6% | 17.6% | 16.9% | 17.9% | 15.7% |
| EBIT margin % | 16.5% | 17.6% | 4.8% | 10.1% | 14.1% | 13.1% | 14.2% | 11.1% |
| PAT margin % | 10.6% | 13.1% | 6.7% | 11.7% | 12% | 14.4% | 45% | 21.4% |
| Working capital | ||||||||
| Receivable days | 56 | 50 | 62 | 62 | 71 | 77 | 71 | 71 |
| Inventory days | 274 | 228 | 369 | 312 | 270 | 265 | 278 | 296 |
| Payable days | — | — | — | — | 28 | 22 | 33 | 38 |
| NWC days | — | — | — | — | 313 | 320 | 316 | 330 |
| Leverage | ||||||||
| Current ratio | 1.96 | 2.52 | 4.39 | 3.47 | 2.27 | 2.73 | 3.32 | 3.59 |
| Debt to EBITDA | 1.09 | 0.61 | 0.8 | 0.43 | 0.93 | 0.83 | 0.57 | 0.13 |
| Debt to equity | 0.34 | 0.2 | 0.07 | 0.06 | 0.24 | 0.19 | 0.1 | 0.02 |
| Interest coverage | 16.6 | 16.9 | 5.3 | 21.1 | 21.9 | 12.2 | 14.6 | 12.9 |
| Asset turnover | 1.11 | 1.16 | 0.69 | 0.83 | 1.02 | 1 | 0.76 | 0.67 |
| Return ratios | ||||||||
| Return on assets % | 11.8% | 15.1% | 4.6% | 9.6% | 12.3% | 14.4% | 34.1% | 14.4% |
| Return on capital employed % | 31.1% | 31% | 5.2% | 12% | 21.8% | 19.2% | 16.5% | 0.2% |
| Return on equity % | 17.5% | 20.4% | 5.4% | 11.5% | 17.7% | 19.5% | 43.8% | 18.1% |
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.