Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 34.7% | 38.7% | 32.1% | 30.5% | 33.6% | ||
Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 34.7% | 38.7% | 32.1% | 30.5% | 33.6% | ||
| 35.4% |
| 36.9% |
| EBITDA margin % | 14.5% | 20.3% | 13.2% | 11.3% | 12.5% | 12% | 12.1% |
| EBIT margin % | 11.8% | 18% | 11.2% | 9.4% | 10.5% | 9.7% | 9.4% |
| PAT margin % | 7.8% | 13% | 8.2% | 6.1% | 6.8% | 7% | 7.6% |
| Working capital | |||||||
| Receivable days | — | 94 | 110 | 116 | 102 | 115 | 118 |
| Inventory days | 101 | 115 | 114 | 100 | 106 | 112 | 111 |
| Payable days | — | 91 | 101 | 93 | 93 | 98 | 108 |
| NWC days | — | 118 | 122 | 123 | 115 | 128 | 121 |
| Leverage | |||||||
| Current ratio | 1.44 | 1.78 | 1.48 | 1.6 | 1.66 | 1.6 | 1.59 |
| Debt to EBITDA | 1.29 | 0.7 | 1.63 | 1.98 | 1.78 | 2.13 | 1.86 |
| Debt to equity | 0.52 | 0.33 | 0.52 | 0.51 | 0.44 | 0.45 | 0.37 |
| Interest coverage | 6.4 | 17.1 | 14 | 7.7 | 8 | 6.9 | 7.3 |
| Asset turnover | 1.15 | 1.22 | 1.13 | 1.12 | 1.04 | 0.93 | 0.91 |
| Return ratios | |||||||
| Return on assets % | 9% | 15.9% | 9.3% | 6.9% | 7.1% | 6.5% | 6.9% |
| Return on capital employed % | 22.5% | 36.9% | 23.8% | 18.7% | 17.2% | 14.7% | 13.5% |
| Return on equity % | 21.7% | 30.7% | 19.8% | 14% | 13.4% | 12.3% | 12.6% |
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.