Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 71.1% | 72.7% | 73.2% | 71.3% | 71.6% | 75% | 75.9% | 75.8% |
| EBITDA margin % | 25.9% | 27.3% | 31% | 28.6% | 29.5% | 31.4% | 32.3% | 32.6% |
| EBIT margin % | 17.8% | 19.1% | 22.8% | 20.8% | 22.2% | 23.9% | 25.4% | 24.6% |
| PAT margin % | 5.7% | 12.9% | 15.6% | 9.1% | 12.9% | 15.4% | 16.6% | 15.3% |
| Working capital | ||||||||
| Receivable days | 68 | 76 | 69 | 70 | 74 | 63 | 59 | 79 |
| Inventory days | 318 | 362 | 456 | 368 | 298 | 310 | 334 | 338 |
| Payable days | 345 | 345 | 3 | 250 | 224 | 284 | 239 | 254 |
| NWC days | 42 | 93 | 522 | 188 | 147 | 89 | 154 | 163 |
| Leverage | ||||||||
| Current ratio | 0.98 | 0.91 | 1.13 | 1.17 | 0.98 | 1.03 | 1.19 | 1.13 |
| Debt to EBITDA | 2.44 | 2.01 | 1.94 | 1.65 | 1.86 | 1.17 | 0.81 | 3.25 |
| Debt to equity | 1.03 | 0.91 | 0.83 | 0.67 | 0.85 | 0.57 | 0.4 | 1.76 |
| Interest coverage | 2.8 | 3.6 | 5.3 | 7.7 | 6.5 | 7.4 | 11.7 | 8.7 |
| Asset turnover | 0.54 | 0.57 | 0.57 | 0.65 | 0.64 | 0.71 | 0.77 | 0.32 |
| Return ratios | ||||||||
| Return on assets % | 3.1% | 7.3% | 8.9% | 5.9% | 8.3% | 11% | 12.7% | 4.8% |
| Return on capital employed % | 15.8% | 18.7% | 21.2% | 22% | 23.9% | 27.3% | 29.6% | 14.5% |
| Return on equity % | 9.2% | 21.3% | 21.4% | 13.1% | 20.1% | 24.2% | 25.2% | 25.5% |
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.