Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 60.5% | 55.9% | 58.6% | 58.8% | 54.9% | 58.5% | 58.5% | 57.1% |
| EBITDA margin % | 16.2% | 10.3% | 16% | 17.7% | 13.2% | 14.5% | 13.5% | 13.8% |
| EBIT margin % | 13.6% | 6.6% | 11% | 13.6% | 9.9% | 11% | 10.4% | 10.8% |
| PAT margin % | 8.9% | 7% | 6.6% | 9.9% | 7.7% | 8.2% | 6.8% | 6.4% |
| Working capital | ||||||||
| Receivable days | 57 | 42 | 65 | 49 | 35 | 55 | 66 | 59 |
| Inventory days | 277 | 233 | 327 | 342 | 223 | 214 | 234 | 167 |
| Payable days | 122 | 86 | 123 | 116 | 74 | 80 | 83 | 69 |
| NWC days | 211 | 189 | 269 | 275 | 184 | 190 | 216 | 156 |
| Leverage | ||||||||
| Current ratio | 1.46 | 1.53 | 1.66 | 1.79 | 1.63 | 1.91 | 1.46 | 1.32 |
| Debt to EBITDA | 1.5 | 2.61 | 1.86 | 1.32 | 1.72 | 1.29 | 2.03 | 1.84 |
| Debt to equity | 0.41 | 0.41 | 0.35 | 0.31 | 0.36 | 0.27 | 0.44 | 0.42 |
| Interest coverage | 18.5 | 3.4 | 5.1 | 10.7 | 7 | 7.3 | 4.7 | 4.6 |
| Asset turnover | 0.93 | 0.91 | 0.72 | 0.81 | 0.98 | 0.95 | 0.96 | 0.99 |
| Return ratios | ||||||||
| Return on assets % | 8.3% | 6.3% | 4.7% | 8% | 7.5% | 7.9% | 6.5% | 6.3% |
| Return on capital employed % | 20.9% | 13.2% | 11.6% | 18.1% | 17.3% | 17.3% | 17.7% | 18.9% |
| Return on equity % | 15.2% | 10.8% | 7.7% | 13.3% | 12.2% | 11.7% | 11.1% | 10.7% |
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.