Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 47.6% | 46.2% | 47% | 43.1% | 42.8% | 44% | 44% | 48% |
| EBITDA margin % | 8.9% | 7.1% | 7.4% | 6.9% | 7.4% | 8.6% | 8.7% | 9.6% |
| EBIT margin % | 7.1% | 5.1% | 5% | 5% | 5.9% | 7% | 7.2% | 7.7% |
| PAT margin % | 5.2% | 3.7% | 4.3% | 5.1% | 5.6% | 6.9% | 6% | 6.7% |
| Working capital | ||||||||
| Receivable days | — | — | 94 | 85 | 80 | 83 | 85 | 75 |
| Inventory days | — | — | 58 | 76 | 60 | 53 | 45 | 60 |
| Payable days | — | — | 164 | 153 | 118 | 107 | 107 | 135 |
| NWC days | — | — | -11 | 8 | 21 | 29 | 24 | -0 |
| Leverage | ||||||||
| Current ratio | — | — | 1.45 | 1.26 | 1.38 | 1.36 | 1.3 | 1.22 |
| Debt to EBITDA | — | — | 0.89 | 0.84 | 1.36 | 1.58 | 1.87 | 2.23 |
| Debt to equity | — | — | 0.1 | 0.1 | 0.21 | 0.28 | 0.34 | 0.41 |
| Interest coverage | 33.8 | 25.9 | 16.9 | 17.3 | 17 | 10.1 | 8.6 | 7.8 |
| Asset turnover | — | — | 0.74 | 0.82 | 0.92 | 0.92 | 0.86 | 0.81 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.2% | 4.2% | 5.1% | 6.3% | 5.2% | 5.4% |
| Return on capital employed % | — | — | 10.1% | 12.2% | 15.8% | 17.9% | 16.9% | 15.7% |
| Return on equity % | — | — | 6.4% | 8.9% | 11.7% | 14.5% | 12.7% | 13% |
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.