Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 38.8% | 43.1% | 44.2% | 44.7% | 44.7% | 49.4% | 49.6% | 49.4% |
| EBITDA margin % | 12% | 10.8% | 13.3% | 14.3% | 15.7% | 18.6% | 17.2% | 19.1% |
| EBIT margin % | 9.5% | 7.8% | 10.1% | 11.7% | 13.6% | 16.2% | 14.4% | 15.9% |
| PAT margin % | 2% | 19.6% | 7.2% | 10.8% | 10.7% | 13.2% | 11.7% | 12.6% |
| Working capital | ||||||||
| Receivable days | — | — | 57 | 56 | 56 | 61 | 55 | 64 |
| Inventory days | — | — | 209 | 196 | 180 | 199 | 205 | 187 |
| Payable days | — | — | 113 | 72 | 60 | 55 | 56 | 61 |
| NWC days | — | — | 153 | 180 | 175 | 204 | 205 | 190 |
| Leverage | ||||||||
| Current ratio | — | — | 1.7 | 2.24 | 2.47 | 2.89 | 2.84 | 3.28 |
| Debt to EBITDA | — | — | 1.74 | 0.96 | 0.69 | 0.5 | 0.57 | 0.21 |
| Debt to equity | — | — | 0.35 | 0.22 | 0.17 | 0.13 | 0.12 | 0.04 |
| Interest coverage | 2.4 | 3 | 4.3 | 8.2 | 15.7 | 22.7 | 18.2 | 33.5 |
| Asset turnover | — | — | 0.81 | 0.98 | 1.06 | 0.97 | 0.93 | 0.88 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.8% | 10.6% | 11.4% | 12.7% | 10.8% | 11.1% |
| Return on capital employed % | — | — | 13.6% | 18.2% | 21.5% | 22.1% | 18.7% | 20% |
| Return on equity % | — | — | 10.8% | 17.2% | 17.3% | 17.8% | 14.8% | 14.1% |
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.