Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 69.6% | 69.8% | 70.4% | 71.8% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 69.6% | 69.8% | 70.4% | 71.8% | ||||
| 70.4% |
| 75.2% |
| 77.3% |
| 77.4% |
| EBITDA margin % | 10.8% | 14.4% | 12.4% | 14.5% | 13.1% | 15.6% | 18.5% | 19.4% |
| EBIT margin % | 7% | 7.7% | 5.2% | 8.2% | 6.6% | 9.7% | 12.5% | 13.7% |
| PAT margin % | 4.6% | 3.6% | 2.1% | 5.9% | 4% | 5.7% | 130.7% | 9.2% |
| Working capital | ||||||||
| Receivable days | — | — | 86 | 72 | 71 | 23 | 23 | 24 |
| Inventory days | — | — | 122 | 129 | 135 | 44 | 36 | 32 |
| Payable days | — | — | 290 | 267 | 309 | 183 | 166 | 168 |
| NWC days | — | — | -83 | -66 | -102 | -116 | -107 | -112 |
| Leverage | ||||||||
| Current ratio | — | — | 1.14 | 1.15 | 1.06 | 0.65 | 2.16 | 1.99 |
| Debt to EBITDA | — | — | 2.17 | 1.48 | 1.46 | 1.16 | 0.84 | 0.78 |
| Debt to equity | — | — | 0.68 | 0.55 | 0.51 | 0.15 | 0.19 | 0.15 |
| Interest coverage | 3.3 | 2 | 1.7 | 3.5 | 2.6 | 3.5 | 5.4 | 6.2 |
| Asset turnover | — | — | 0.74 | 0.82 | 0.8 | 0.21 | 0.63 | 0.57 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.5% | 4.8% | 3.2% | 1.2% | 81.9% | 5.3% |
| Return on capital employed % | — | — | 5.9% | 10.2% | 9% | 2.8% | 5.8% | 11.9% |
| Return on equity % | — | — | 5.3% | 15.2% | 10.7% | 4.6% | 157.8% | 9.3% |
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.