Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | 80% | 86.5% | 87.3% | 87.1% | 86.7% |
| EBITDA margin % | 25.1% | 31.3% | 33.8% | 33.1% | 32.3% | 32% |
| EBIT margin % | 13.8% | 22.8% | 26.1% | 24.4% | 23.2% | 23.1% |
| PAT margin % | 6.1% | 14.2% | 18.1% | 16.8% | 16.1% | 16.5% |
| Working capital | ||||||
| Receivable days | 25 | 15 | 18 | 20 | 19 | 22 |
| Inventory days | 8 | 28 | 43 | 53 | 52 | 67 |
| Payable days | — | — | 195 | 180 | 170 | 162 |
| NWC days | — | — | -133 | -107 | -100 | -73 |
| Leverage | ||||||
| Current ratio | 1.61 | 2.32 | 3.35 | 4.16 | 5.53 | 3.59 |
| Debt to EBITDA | 0.29 | 0.14 | 0 | 0 | 0 | 0 |
| Debt to equity | 0.11 | 0.07 | 0 | 0 | 0 | 0 |
| Interest coverage | 2.3 | 4.5 | 6.1 | 6 | 5.6 | 5.6 |
| Asset turnover | 0.6 | 0.75 | 0.66 | 0.6 | 0.64 | 0.61 |
| Return ratios | ||||||
| Return on assets % | 3.7% | 10.7% | 12% | 10.1% | 10.3% | 10.1% |
| Return on capital employed % | 10.4% | 22.6% | 24% | 19.4% | 19% | 18.2% |
| Return on equity % | 8.9% | 23% | 20% | 17.3% | 16.6% | 17.1% |
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.