Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 39.6% | 38.7% | 43.8% | 42.8% | 40.5% | 43.1% | 43.8% | 44.1% |
| EBITDA margin % | 11.9% | 11.4% | 14.2% | 17.6% | 15.6% | 14.7% | 14.1% | 14.7% |
| EBIT margin % | 9.4% | 8.9% | 11% | 15% | 12.8% | 10.8% | 7.8% | 7.8% |
| PAT margin % | 6.3% | 5.4% | 5.4% | 12.8% | 7.2% | 7.7% | 4.6% | 4.1% |
| Working capital | ||||||||
| Receivable days | 39 | 49 | 19 | 14 | 25 | 25 | 34 | 31 |
| Inventory days | 176 | 197 | 217 | 162 | 159 | 173 | 198 | 204 |
| Payable days | — | — | 61 | 41 | 33 | 17 | 27 | 45 |
| NWC days | — | — | 175 | 135 | 151 | 181 | 205 | 189 |
| Leverage | ||||||||
| Current ratio | 2.27 | 2.06 | 2.77 | 2.99 | 3.14 | 4 | 2.16 | 2.16 |
| Debt to EBITDA | 0.18 | 0.39 | 0.77 | 0.5 | 0.39 | 0.5 | 1.11 | 0.41 |
| Debt to equity | 0.04 | 0.08 | 0.13 | 0.13 | 0.09 | 0.1 | 0.18 | 0.08 |
| Interest coverage | 5.4 | 4 | 10.1 | 13.2 | 7.8 | 7.2 | 3.5 | 3.7 |
| Asset turnover | 1.23 | 1.08 | 0.91 | 0.97 | 1.13 | 1.06 | 0.8 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | 7.7% | 5.8% | 4.9% | 12.5% | 8.1% | 8.2% | 3.7% | 3.6% |
| Return on capital employed % | 17.8% | 15.7% | 15% | 22.5% | 20.3% | 16.6% | 10.8% | 9.6% |
| Return on equity % | 11.2% | 9.1% | 6.6% | 18.1% | 11.2% | 10.6% | 5.4% | 5.1% |
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.