Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 43.5% | 46.8% | 46.4% | 46.9% | 45.7% | 45.7% | 48.1% | 48.2% |
| EBITDA margin % | 10.6% | 9.7% | 12.5% | 13.1% | 13.5% | 14.7% | 15.7% | 15.7% |
| EBIT margin % | 6.8% | 4.7% | 7.4% | 9.1% | 9.8% | 11.4% | 11.8% | 11.9% |
| PAT margin % | 5.5% | 3.2% | 8.8% | 7.8% | 8.6% | 14.1% | 11.4% | 12% |
| Working capital | ||||||||
| Receivable days | 102 | — | — | 96 | 95 | 99 | 108 | 118 |
| Inventory days | 148 | — | — | 136 | 138 | 110 | 107 | 118 |
| Payable days | 2 | — | — | 182 | 176 | 145 | 144 | 161 |
| NWC days | 248 | — | — | 49 | 57 | 63 | 71 | 75 |
| Leverage | ||||||||
| Current ratio | 1.05 | — | — | 1.24 | 1.3 | 1.38 | 1.72 | 1.96 |
| Debt to EBITDA | 2.7 | — | — | 1.18 | 1 | 0.75 | 0.64 | 0.55 |
| Debt to equity | 0.69 | — | — | 0.29 | 0.24 | 0.16 | 0.13 | 0.1 |
| Interest coverage | 2.6 | 1.5 | 3.1 | 5.1 | 6.1 | 7.6 | 8.4 | 9.3 |
| Asset turnover | 0.97 | — | — | 1.01 | 0.99 | 0.91 | 0.87 | 0.8 |
| Return ratios | ||||||||
| Return on assets % | 5.3% | — | — | 7.9% | 8.5% | 12.8% | 9.9% | 9.6% |
| Return on capital employed % | 18.5% | — | — | 18.7% | 19.5% | 20.7% | 18.2% | 16.6% |
| Return on equity % | 13.3% | — | — | 14.9% | 15.1% | 20.5% | 14.9% | 14% |
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.