Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.9% | 56.1% | 57% | 57% | 60% | 54.7% | 52.8% | 56.8% |
| EBITDA margin % | 14.6% | 15.5% | 16.6% | 20.5% | 20.3% | 18.3% | 16% | 17% |
| EBIT margin % | 11.9% | 11.5% | 11.4% | 17.2% | 17.1% | 15.2% | 11.8% | 12.5% |
| PAT margin % | 8.9% | 9.3% | 10.4% | 14.4% | 14% | 12.8% | 10.1% | 10.6% |
| Working capital | ||||||||
| Receivable days | 103 | 92 | — | 87 | 77 | 76 | 76 | 88 |
| Inventory days | 275 | 323 | — | 244 | 363 | 264 | 221 | 241 |
| Payable days | 1 | 0 | — | 63 | 66 | 34 | 34 | 31 |
| NWC days | 377 | 415 | — | 268 | 374 | 306 | 263 | 298 |
| Leverage | ||||||||
| Current ratio | 1.55 | 1.73 | — | 2.1 | 1.8 | 1.97 | 1.81 | 2.04 |
| Debt to EBITDA | — | — | — | 1.29 | 1.63 | 1.69 | 2.04 | 1.75 |
| Debt to equity | — | — | — | 0.38 | 0.46 | 0.4 | 0.48 | 0.41 |
| Interest coverage | 4.7 | 5.3 | 7.1 | 17.7 | 14 | 10.6 | 7.4 | 7.7 |
| Asset turnover | 0.71 | 0.75 | 2.83 | 0.91 | 0.84 | 0.81 | 0.87 | 0.85 |
| Return ratios | ||||||||
| Return on assets % | 6.3% | 6.9% | 29.3% | 13% | 11.8% | 10.4% | 8.8% | 9% |
| Return on capital employed % | 16% | 19.3% | — | 26.1% | 26.4% | 24.5% | 20.4% | 20.3% |
| Return on equity % | 12.4% | 13.4% | — | 20.5% | 19.7% | 16.7% | 14.8% | 14.5% |
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.