Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 65.5% | 65.5% | 63.7% | 63.4% | 68.1% | 72.7% | 73.1% |
| EBITDA margin % | 19.5% | 22.1% | 21.9% | 22.4% | 27.5% | 30.4% | 31.2% |
| EBIT margin % | 14.6% | 17.3% | 17.2% | 18.2% | 23.6% | 26.4% | 26% |
| PAT margin % | 8.5% | 14.5% | 30.3% | 12.1% | 20.3% | 20.1% | 18.9% |
| Working capital | |||||||
| Receivable days | 94 | 76 | 80 | 94 | 97 | 63 | 73 |
| Inventory days | 207 | 227 | 245 | 197 | 202 | 227 | 282 |
| Payable days | — | 155 | 141 | 123 | 125 | 133 | 142 |
| NWC days | — | 148 | 184 | 168 | 175 | 158 | 212 |
| Leverage | |||||||
| Current ratio | 1.05 | 1.11 | 1.55 | 1.81 | 2.14 | 1.89 | 1.27 |
| Debt to EBITDA | 2.53 | 1.37 | 1.26 | 0.3 | 0.14 | 0.45 | 1.39 |
| Debt to equity | 0.68 | 0.35 | 0.25 | 0.07 | 0.04 | 0.13 | 0.43 |
| Interest coverage | 6.4 | 16.2 | 22.5 | 25.6 | 60.4 | 38.7 | 17.3 |
| Asset turnover | 0.6 | 0.63 | 0.55 | 0.67 | 0.67 | 0.62 | 0.52 |
| Return ratios | |||||||
| Return on assets % | 5.1% | 9.1% | 16.6% | 8.1% | 13.6% | 12.6% | 9.8% |
| Return on capital employed % | 14.3% | 16.9% | 15.9% | 16.5% | 22.2% | 24.6% | 23.4% |
| Return on equity % | 11.6% | 16.8% | 27.2% | 11.9% | 20% | 19.5% | 18.9% |
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.