Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 67.4% | 68.1% | 67% | 65.1% | 65.9% | 69.1% |
| EBITDA margin % | 21.3% | 25.5% | 23.6% | 23.9% | 21.3% | 18.1% |
| EBIT margin % | 16.5% | 21.8% | 19.7% | 19.2% | 15.1% | 12.3% |
| PAT margin % | 14.5% | 17.2% | 14.7% | 14.4% | 11.3% | 8.7% |
| Working capital | ||||||
| Receivable days | 75 | 90 | 80 | 80 | 89 | 96 |
| Inventory days | 275 | 252 | 243 | 209 | 200 | 293 |
| Payable days | 114 | 103 | 101 | 68 | 73 | 105 |
| NWC days | 236 | 239 | 222 | 220 | 216 | 284 |
| Leverage | ||||||
| Current ratio | 2.22 | 2.28 | 1.71 | 1.96 | 2.26 | 2.2 |
| Debt to EBITDA | 0.44 | 0.32 | 0.72 | 0.55 | 0.48 | 0.39 |
| Debt to equity | 0.12 | 0.11 | 0.24 | 0.18 | 0.14 | 0.08 |
| Interest coverage | 83.8 | 27.7 | 14.1 | 13.7 | 11.9 | 12.7 |
| Asset turnover | 0.82 | 0.82 | 0.82 | 0.91 | 0.93 | 0.82 |
| Return ratios | ||||||
| Return on assets % | 11.9% | 14.2% | 12% | 13% | 10.5% | 7.2% |
| Return on capital employed % | 24.8% | 33% | 29.4% | 29.2% | 21.6% | 16.3% |
| Return on equity % | 17.7% | 22.5% | 20.4% | 20.2% | 15.2% | 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.