Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 43.1% | 45.7% | 46.5% | 41% | ||||
| 37.3% |
| 47.3% |
| 48.2% |
| 50.3% |
| EBITDA margin % | 20.4% | 19.4% | 20.5% | 18.9% | 18.6% | 22.6% | 26% | 26.7% |
| EBIT margin % | 18% | 15.6% | 16.7% | 16.2% | 16.8% | 20.2% | 23.6% | 24.1% |
| PAT margin % | 11.2% | 12.5% | 11.5% | 11.5% | 11.7% | 14.4% | 17.1% | 17.7% |
| Working capital | ||||||||
| Receivable days | 59 | 60 | 66 | 50 | 44 | 51 | 60 | 69 |
| Inventory days | 74 | 99 | 119 | 113 | 92 | 97 | 97 | 130 |
| Payable days | 43 | 46 | 78 | 73 | 41 | 63 | 46 | 47 |
| NWC days | 90 | 113 | 108 | 90 | 95 | 84 | 111 | 152 |
| Leverage | ||||||||
| Current ratio | 1.33 | 1.34 | 1.5 | 1.49 | 1.53 | 1.77 | 1.95 | 2.06 |
| Debt to EBITDA | 0.93 | 1.4 | 1.53 | 1.16 | 0.91 | 0.81 | 0.48 | 0.56 |
| Debt to equity | 0.38 | 0.44 | 0.5 | 0.45 | 0.45 | 0.33 | 0.21 | 0.23 |
| Interest coverage | 9.2 | 7.1 | 9.7 | 13.1 | 13.2 | 11.6 | 15.9 | 18.7 |
| Asset turnover | 1.08 | 0.88 | 0.83 | 1.06 | 1.37 | 1.06 | 0.91 | 0.9 |
| Return ratios | ||||||||
| Return on assets % | 12.1% | 11% | 9.5% | 12.2% | 16.1% | 15.3% | 15.6% | 15.9% |
| Return on capital employed % | 30.7% | 23.3% | 22.1% | 27.3% | 39.7% | 33.3% | 35.6% | 34.2% |
| Return on equity % | 22.4% | 20.2% | 18.2% | 23.8% | 31.1% | 26.5% | 29.4% | 27.7% |
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.