Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 38.7% | 39.9% | 38.5% | 36.6% | 35.7% | 35.4% | 35.2% | 35.8% |
| EBITDA margin % | 12.3% | 11.3% | 11.4% | 10.7% | 11.1% | 11.3% | 11.2% | 11.5% |
| EBIT margin % | 8.3% | 5.8% | 5.5% | 5.9% | 7.2% | 7.5% | 7.5% | 7.9% |
| PAT margin % | 5.8% | 3.4% | 3.9% | 5% | 6.2% | 6.6% | 6.1% | 6.5% |
| Working capital | ||||||||
| Receivable days | 56 | 58 | 69 | 60 | 56 | 54 | 54 | 50 |
| Inventory days | 57 | 68 | 70 | 72 | 67 | 66 | 58 | 62 |
| Payable days | 7 | 124 | 120 | 98 | 86 | 80 | 73 | 75 |
| NWC days | 106 | 1 | 18 | 35 | 37 | 39 | 39 | 37 |
| Leverage | ||||||||
| Current ratio | 1.17 | 0.88 | 0.96 | 1.26 | 1.21 | 1.23 | 1.26 | 1.2 |
| Debt to EBITDA | 1.32 | 1.64 | 1.6 | 0.93 | 1.01 | 0.99 | 1.22 | 1.13 |
| Debt to equity | 0.56 | 0.55 | 0.51 | 0.24 | 0.3 | 0.32 | 0.4 | 0.37 |
| Interest coverage | 8.2 | 4 | 5.4 | 8.9 | 12.4 | 9.7 | 7.6 | 8.5 |
| Asset turnover | 1.4 | 0.98 | 1.06 | 1.22 | 1.35 | 1.42 | 1.43 | 1.43 |
| Return ratios | ||||||||
| Return on assets % | 8% | 3.4% | 4.1% | 6% | 8.4% | 9.3% | 8.7% | 9.4% |
| Return on capital employed % | 21.8% | 11.8% | 11.8% | 14% | 17.5% | 18.9% | 18.5% | 19.3% |
| Return on equity % | 19.9% | 10.1% | 11% | 12% | 16.8% | 18.7% | 17.8% | 18.8% |
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.