Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 30% | 30% | 29.4% | 27.7% | 27.9% | 28.8% | 28.6% |
| EBITDA margin % | — | 13.9% | 12.9% | 13.9% | 13.5% | 13.8% | 14.4% | 14.6% |
| EBIT margin % | — | 9.6% | 7.9% | 9.5% | 9.5% | 10.4% | 11.3% | 11.6% |
| PAT margin % | 5.9% | 4.9% | 3.5% | 5.3% | 5.2% | 6.3% | 7.2% | 7.8% |
| Working capital | ||||||||
| Receivable days | — | 84 | 97 | 87 | 80 | 79 | 78 | 87 |
| Inventory days | — | 110 | 132 | 129 | 117 | 107 | 108 | 111 |
| Payable days | — | — | 56 | 55 | 48 | 45 | 42 | 37 |
| NWC days | — | — | 173 | 161 | 150 | 141 | 143 | 161 |
| Leverage | ||||||||
| Current ratio | — | — | 1.98 | 2.02 | 2.15 | 2.25 | 2.63 | 3.51 |
| Debt to EBITDA | — | 1.53 | 2.09 | 1.63 | 1.4 | 1.08 | 0.82 | 0.72 |
| Debt to equity | — | 0.42 | 0.43 | 0.4 | 0.36 | 0.29 | 0.22 | 0.16 |
| Interest coverage | — | 3.2 | 2.5 | 3.8 | 3.9 | 5.2 | 6.8 | 9 |
| Asset turnover | — | 1.06 | 0.91 | 1.01 | 1.12 | 1.21 | 1.24 | 1.08 |
| Return ratios | ||||||||
| Return on assets % | — | 5.2% | 3.2% | 5.3% | 5.8% | 7.7% | 9% | 8.5% |
| Return on capital employed % | — | — | 10.2% | 14.3% | 15.5% | 18.6% | 19.7% | 18.2% |
| Return on equity % | — | 9.6% | 5.6% | 9.3% | 9.9% | 12.4% | 13.6% | 11.7% |
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.