Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 66.7% | 64.9% | 64.5% | |||||
| 64.5% |
| 63.4% |
| 64.6% |
| 65.4% |
| 65.5% |
| EBITDA margin % | 11.2% | 13.2% | 14.6% | 10.2% | 7.4% | 8.8% | 8.6% | 9.7% |
| EBIT margin % | 9.8% | 11.6% | 13% | 8.2% | 4.5% | 5.8% | 5.5% | 6.9% |
| PAT margin % | 8.5% | 9.6% | 10.7% | 8.6% | 3.9% | 4.2% | 4.5% | 7.2% |
| Working capital | ||||||||
| Receivable days | — | — | 24 | 31 | 33 | 38 | 35 | 34 |
| Inventory days | — | — | 180 | 231 | 238 | 202 | 219 | 232 |
| Payable days | — | — | 65 | 104 | 95 | 76 | 73 | 77 |
| NWC days | — | — | 139 | 158 | 176 | 164 | 181 | 189 |
| Leverage | ||||||||
| Current ratio | — | — | 2.87 | 2.25 | 2.36 | 2.33 | 2.37 | 2.76 |
| Debt to EBITDA | — | — | 0.25 | 0.35 | 0.57 | 0.39 | 0.39 | 0.31 |
| Debt to equity | — | — | 0.1 | 0.09 | 0.1 | 0.08 | 0.08 | 0.07 |
| Interest coverage | 41.4 | 28.3 | 75.3 | 40.7 | 18.2 | 17.2 | 14.4 | 19.9 |
| Asset turnover | — | — | 1.82 | 1.63 | 1.5 | 1.61 | 1.66 | 1.45 |
| Return ratios | ||||||||
| Return on assets % | — | — | 19.5% | 14% | 5.9% | 6.7% | 7.5% | 10.4% |
| Return on capital employed % | — | — | 35.3% | 22.9% | 12.2% | 15.3% | 15.3% | 17.5% |
| Return on equity % | — | — | 28.2% | 21% | 8.8% | 10.1% | 11.3% | 16.1% |
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.