Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 70.9% | 74.2% | 75.9% | 71.2% | 73.1% | 73.3% | 74.1% | 75.4% |
| EBITDA margin % | 29.4% | 30.7% | 30.8% | 30.6% | 29.3% | 29.1% | 28.6% | 24.6% |
| EBIT margin % | 20.4% | 19.8% | 18.2% | 18.7% | 17.8% | 16.9% | 16.7% | 12.5% |
| PAT margin % | 18.2% | 20.5% | 18.5% | 15.2% | 14.5% | 14.6% | 13.6% | 8.5% |
| Working capital | ||||||||
| Receivable days | — | 72 | 79 | 71 | 61 | 46 | 53 | 50 |
| Inventory days | 59 | 18 | 41 | 87 | 141 | 94 | 60 | 56 |
| Payable days | — | 156 | 167 | 113 | 109 | 100 | 136 | 138 |
| NWC days | — | -66 | -47 | 45 | 92 | 40 | -23 | -32 |
| Leverage | ||||||||
| Current ratio | 2.2 | 1.1 | 1.59 | 1.8 | 2.04 | 1.71 | 1.64 | 1.38 |
| Debt to EBITDA | — | 0.5 | 1.15 | 0.99 | 0.62 | 0.14 | 0.11 | 0.01 |
| Debt to equity | — | 0.14 | 0.27 | 0.24 | 0.16 | 0.03 | 0.03 | 0 |
| Interest coverage | 13.9 | 13.9 | 16.7 | 22.4 | 14.1 | 14.4 | 12.8 | 11 |
| Asset turnover | 0.57 | 0.48 | 0.45 | 0.47 | 0.55 | 0.57 | 0.54 | 0.53 |
| Return ratios | ||||||||
| Return on assets % | 10.4% | 9.9% | 8.3% | 7.1% | 8% | 8.3% | 7.3% | 4.5% |
| Return on capital employed % | 18.6% | 19.1% | 14.5% | 13.3% | 14.2% | 14.1% | 13.1% | 9.8% |
| Return on equity % | 19.3% | 18.9% | 14.4% | 12% | 12.8% | 12% | 10.5% | 6.5% |
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.