Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 68.4% | 66.7% | 62.3% | 63.6% | 64.9% | 66.8% | 68.2% |
| EBITDA margin % | 23.9% | 27.3% | 23.1% | 23.8% | 26% | 27.1% | 23.6% |
| EBIT margin % | 18% | 21.2% | 17.2% | 18.7% | 21.4% | 22.2% | 17.4% |
| PAT margin % | 14% | 17.3% | 15.9% | 16.1% | 18.8% | 20.3% | 17.1% |
| Working capital | |||||||
| Receivable days | — | 72 | 82 | 77 | 72 | 76 | 103 |
| Inventory days | — | 176 | 177 | 188 | 167 | 188 | 265 |
| Payable days | — | 90 | 93 | 83 | 72 | 57 | 75 |
| NWC days | — | 159 | 165 | 182 | 166 | 207 | 294 |
| Leverage | |||||||
| Current ratio | — | 4.11 | 3.46 | 2.75 | 2.4 | 5.18 | 3.37 |
| Debt to EBITDA | — | 0.63 | 0.59 | 0.55 | 0.48 | 0.39 | 0.77 |
| Debt to equity | — | 0.14 | 0.12 | 0.12 | 0.12 | 0.06 | 0.11 |
| Interest coverage | 7.7 | 21.8 | 46.4 | 27.6 | 31.2 | 38.3 | 24.4 |
| Asset turnover | 2.05 | 0.64 | 0.67 | 0.71 | 0.74 | 0.52 | 0.48 |
| Return ratios | |||||||
| Return on assets % | 28.6% | 11.1% | 10.6% | 11.4% | 13.9% | 10.6% | 8.2% |
| Return on capital employed % | — | 17.6% | 17.9% | 20.1% | 25.3% | 21.2% | 14.5% |
| Return on equity % | — | 14.1% | 13.5% | 14.4% | 17.6% | 12.2% | 10.3% |
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.