Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 20.9% | 30.2% | 29.5% | 27.8% | 26.3% | 25.3% | 27.1% | 26.7% |
| EBITDA margin % | 9.6% | 12.6% | 13% | 12.7% | 11.6% | 10.3% | 10.6% | 9.8% |
| EBIT margin % | 8.9% | 11.3% | 11.9% | 11.4% | 10.6% | 9.4% | 9.5% | 8.6% |
| PAT margin % | 5.3% | 6.2% | 8.2% | 7.5% | 7% | 6% | 7.3% | 6.4% |
| Working capital | ||||||||
| Receivable days | — | — | 183 | 162 | 174 | 162 | 179 | 155 |
| Inventory days | — | — | 320 | 231 | 178 | 154 | 158 | 132 |
| Payable days | — | — | 92 | 65 | 44 | 40 | 47 | 45 |
| NWC days | — | — | 411 | 328 | 308 | 276 | 290 | 242 |
| Leverage | ||||||||
| Current ratio | — | — | 2.9 | 3.08 | 3.81 | 4.99 | 4.43 | 3.19 |
| Debt to EBITDA | — | — | 1.48 | 1.35 | 1.28 | 0.72 | 0.72 | 0.57 |
| Debt to equity | — | — | 0.18 | 0.21 | 0.18 | 0.09 | 0.09 | 0.07 |
| Interest coverage | 5.1 | 4.7 | 12.4 | 8.5 | 7.4 | 7.9 | 19 | 17.9 |
| Asset turnover | — | — | 0.66 | 0.87 | 0.91 | 0.98 | 0.9 | 0.97 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.4% | 6.5% | 6.4% | 5.9% | 6.6% | 6.2% |
| Return on capital employed % | — | — | 11.8% | 16% | 14.8% | 13% | 11.8% | 12.4% |
| Return on equity % | — | — | 7.7% | 9.5% | 8.8% | 7.3% | 8.2% | 8.5% |
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.