Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.6% | 45.3% | 44.6% | 36.7% | ||||
| 33.4% |
| 37.1% |
| 40.5% |
| 41.2% |
| EBITDA margin % | 9.5% | 10.5% | 13% | 9.6% | 7.7% | 8.8% | 9.9% | 10.5% |
| EBIT margin % | 8.7% | 9.5% | 11.9% | 8.6% | 6.8% | 8% | 8.4% | 8.9% |
| PAT margin % | 7% | 9.3% | 11.2% | 8% | 6.2% | 7.4% | 8.6% | 8.8% |
| Working capital | ||||||||
| Receivable days | 52 | 42 | 47 | 50 | 47 | 44 | 54 | 58 |
| Inventory days | 84 | 102 | 150 | 109 | 90 | 84 | 104 | 93 |
| Payable days | 80 | 87 | 107 | 79 | 63 | 67 | 52 | 59 |
| NWC days | 56 | 56 | 90 | 80 | 73 | 61 | 106 | 92 |
| Leverage | ||||||||
| Current ratio | 2.5 | 2.63 | 2.72 | 2.62 | 2.64 | 2.82 | 3.09 | 3.02 |
| Debt to EBITDA | 0.3 | 0.25 | 0.1 | 0.09 | 0.03 | 0 | 0 | 0 |
| Debt to equity | 0.06 | 0.05 | 0.02 | 0.02 | 0.01 | 0 | 0 | 0 |
| Interest coverage | 57.2 | 62.3 | 71.5 | 94.6 | 95 | 98.1 | 51.9 | 88.1 |
| Asset turnover | 1.49 | 1.36 | 1.21 | 1.48 | 1.69 | 1.67 | 1.57 | 1.54 |
| Return ratios | ||||||||
| Return on assets % | 10.4% | 12.6% | 13.6% | 11.9% | 10.4% | 12.4% | 13.5% | 13.6% |
| Return on capital employed % | 20.4% | 20.7% | 22.6% | 19.4% | 17.8% | 20.7% | 19.7% | 20.2% |
| Return on equity % | 15.2% | 17.9% | 19.2% | 17.1% | 15% | 17.3% | 18.5% | 18.5% |
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.