Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 91.8% | 93.7% | 93.9% | 89.2% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 91.8% | 93.7% | 93.9% | 89.2% | ||||
| 90.3% |
| 92.9% |
| 93.8% |
| 95% |
| EBITDA margin % | 25.1% | 22.8% | 20.6% | 22.5% | 26.6% | 33.7% | 32.8% | 24.5% |
| EBIT margin % | 21.6% | 19.2% | 16.5% | 18.5% | 23.2% | 29% | 26.4% | 18.5% |
| PAT margin % | 17.5% | 17.4% | 14.1% | 15.8% | 20.3% | 26.3% | 24.6% | 18.5% |
| Working capital | ||||||||
| Receivable days | — | — | 80 | 38 | 34 | 34 | 32 | 31 |
| Inventory days | — | — | 592 | 218 | 223 | 369 | 515 | 685 |
| Payable days | — | — | 561 | 265 | 234 | 304 | 417 | 549 |
| NWC days | — | — | 111 | -9 | 24 | 99 | 131 | 166 |
| Leverage | ||||||||
| Current ratio | — | — | 1.68 | 1.62 | 1.57 | 1.7 | 1.49 | 1.86 |
| Debt to EBITDA | — | — | 0.32 | 0.13 | 0.11 | 0.13 | 0.19 | 0.34 |
| Debt to equity | — | — | 0.16 | 0.08 | 0.07 | 0.08 | 0.09 | 0.12 |
| Interest coverage | 99.6 | 48.9 | 28.9 | 44.6 | 56.5 | 60.1 | 53.6 | 34.8 |
| Asset turnover | — | — | 0.56 | 0.61 | 0.65 | 0.6 | 0.55 | 0.59 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.9% | 9.6% | 13.3% | 15.7% | 13.6% | 10.9% |
| Return on capital employed % | — | — | 16.8% | 20.6% | 29.1% | 30.9% | 25.5% | 20.5% |
| Return on equity % | — | — | 34.8% | 40.3% | 49.1% | 45.2% | 35.6% | 26.1% |
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.