Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 76.1% | 78.2% | 76.6% | 74.2% | 76.9% | 83.5% | 83.6% | 86.9% |
| EBITDA margin % | 24.5% | 21.4% | 19.3% | 15.5% | 17.3% | 19.1% | 18.3% | 24.8% |
| EBIT margin % | 18.8% | 16.4% | 14.1% | 10.1% | 12.5% | 14.1% | 7.8% | 15.1% |
| PAT margin % | 16.7% | 15.6% | 10.9% | 11.1% | 9.2% | 10.1% | 5.3% | 10.3% |
| Working capital | ||||||||
| Receivable days | 29 | 24 | 28 | 21 | 14 | 19 | 23 | 23 |
| Inventory days | 232 | 233 | 212 | 124 | 218 | 255 | 314 | 343 |
| Payable days | 105 | 87 | 89 | 73 | 165 | 167 | 163 | 189 |
| NWC days | 156 | 171 | 151 | 73 | 68 | 107 | 173 | 177 |
| Leverage | ||||||||
| Current ratio | 2.96 | 3.48 | 3.59 | 2.81 | 1.89 | 0.98 | 1.15 | 1.31 |
| Debt to EBITDA | 0.11 | 0.03 | 0.04 | 0.02 | 0.06 | 0.23 | 0.67 | 0.63 |
| Debt to equity | 0.03 | 0.01 | 0.01 | 0 | 0.01 | 0.05 | 0.14 | 0.18 |
| Interest coverage | 24.3 | 35.4 | 38.7 | 19.3 | 40.1 | 34.6 | 8.1 | 12.7 |
| Asset turnover | 0.8 | 0.78 | 0.67 | 0.81 | 0.86 | 0.81 | 0.77 | 0.81 |
| Return ratios | ||||||||
| Return on assets % | 13.3% | 12.2% | 7.3% | 9% | 7.9% | 8.2% | 4.1% | 8.4% |
| Return on capital employed % | 18.3% | 16.7% | 12.7% | 11.3% | 15.7% | 16.1% | 8.5% | 17% |
| Return on equity % | 17.7% | 15.5% | 9% | 11.4% | 10.2% | 10.9% | 5.9% | 12.2% |
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.