Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 39.1% | 36.5% | 32.4% | 31.3% | 33% | 34% | 33.5% |
| EBITDA margin % | 11.2% | 8.8% | 6.7% | 5.6% | 5.9% | 7% | 6% |
| EBIT margin % | 9.1% | 6.4% | 4.3% | 2.8% | 2.8% | 4.3% | 3.4% |
| PAT margin % | 8.2% | 6% | 9.2% | 3.4% | 3.3% | 4.6% | 3.7% |
| Working capital | |||||||
| Receivable days | — | 23 | 25 | 24 | 18 | 24 | 34 |
| Inventory days | — | 124 | 114 | 120 | 99 | 93 | 103 |
| Payable days | — | 161 | 129 | 131 | 114 | 119 | 128 |
| NWC days | — | -14 | 10 | 13 | 3 | -3 | 9 |
| Leverage | |||||||
| Current ratio | — | 2.09 | 2.04 | 2.04 | 2.28 | 2.13 | 2.03 |
| Debt to EBITDA | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 33.9 | 30.4 | 20.9 | 20.8 | 11.8 | 11.8 | 10.4 |
| Asset turnover | — | 1.17 | 1.09 | 1.12 | 1.11 | 1.17 | 1.09 |
| Return ratios | |||||||
| Return on assets % | — | 7% | 10% | 3.8% | 3.7% | 5.4% | 4% |
| Return on capital employed % | — | 14.8% | 9.4% | 7.8% | 8.5% | 11.8% | 9.9% |
| Return on equity % | — | 12.3% | 16.9% | 6.4% | 6.1% | 9.2% | 7.1% |
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.