Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 81.6% | 81.8% | 80.3% | |||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 81.6% | 81.8% | 80.3% | |||||
| 79.3% |
| 75.6% |
| 76.8% |
| 76.2% |
| 74.1% |
| EBITDA margin % | 43.4% | 45.6% | 46.1% | 38.1% | 28.9% | 32.8% | 30.5% | 30.7% |
| EBIT margin % | 38.3% | 39.8% | 40.5% | 31.4% | 22.5% | 27.1% | 24.8% | 25.3% |
| PAT margin % | 27.6% | 30% | 30.2% | 23.4% | 19.2% | 22% | 21% | 23.3% |
| Working capital | ||||||||
| Receivable days | 51 | 61 | 63 | 61 | 68 | 58 | 66 | 71 |
| Inventory days | 363 | 361 | 346 | 402 | 343 | 375 | 378 | 335 |
| Payable days | 3 | 3 | 56 | 60 | 67 | 40 | 41 | 76 |
| NWC days | 412 | 420 | 353 | 403 | 344 | 393 | 403 | 331 |
| Leverage | ||||||||
| Current ratio | 4.33 | 6.31 | 7.64 | 10 | 9.31 | 7.61 | 9.09 | 9.78 |
| Debt to EBITDA | 0.16 | 0.08 | 0.08 | 0.05 | 0.08 | 0.12 | 0.11 | 0.09 |
| Debt to equity | 0.04 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 |
| Interest coverage | 42.9 | 59.9 | 133.3 | 96 | 60.7 | 70.3 | 53.6 | 85.1 |
| Asset turnover | 0.52 | 0.45 | 0.43 | 0.42 | 0.38 | 0.41 | 0.39 | 0.41 |
| Return ratios | ||||||||
| Return on assets % | 14.3% | 13.6% | 13.1% | 9.8% | 7.3% | 8.9% | 8.3% | 9.4% |
| Return on capital employed % | 24.1% | 21.9% | 21.1% | 15% | 11.5% | 14.8% | 12.9% | 13.7% |
| Return on equity % | 17.1% | 15.8% | 15.6% | 11.4% | 8.4% | 10.3% | 9.4% | 10.6% |
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.