Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 92.4% | 92.3% | 92.1% | 93.1% | 92% | 92.4% | 89.6% | 89.7% |
| EBITDA margin % | — | 29.2% | 30.1% | 24.7% | 16.6% | 22% | 20.4% | 22.1% |
| EBIT margin % | — | 15.2% | 20.7% | 17.1% | 7.3% | 12.8% | 4.8% | 8.8% |
| PAT margin % | 13.6% | 12% | 17% | 15.6% | 7.1% | 11.7% | 5.8% | 8.4% |
| Working capital | ||||||||
| Receivable days | 16 | 31 | 18 | 19 | 25 | 23 | 27 | 32 |
| Inventory days | 743 | 631 | 585 | 878 | 703 | 827 | 444 | 469 |
| Payable days | 345 | 242 | 301 | 2 | 305 | 282 | 247 | 274 |
| NWC days | 415 | 420 | 303 | 895 | 423 | 567 | 223 | 227 |
| Leverage | ||||||||
| Current ratio | 1.92 | 1.97 | 1.84 | 1.81 | 1.33 | 1.99 | 2.1 | 2.16 |
| Debt to EBITDA | — | 0.62 | 0.53 | 0.54 | 0.86 | 0.33 | 0.21 | 0.34 |
| Debt to equity | 0.38 | 0.18 | 0.14 | 0.12 | 0.14 | 0.07 | 0.04 | 0.07 |
| Interest coverage | -3.8 | 7.6 | 13 | 14.4 | 6.7 | 12.5 | 7.4 | 11.8 |
| Asset turnover | 0.67 | 0.65 | 0.63 | 0.63 | 0.68 | 0.73 | 0.68 | 0.67 |
| Return ratios | ||||||||
| Return on assets % | 9.1% | 7.7% | 10.6% | 9.8% | 4.8% | 8.6% | 3.9% | 5.6% |
| Return on capital employed % | -5% | 15.8% | 19.7% | 17.2% | 9.1% | 15.5% | 6.8% | 10.6% |
| Return on equity % | 15.6% | 11.7% | 14.9% | 13.4% | 6.8% | 11.6% | 5.2% | 7.5% |
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.