Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.5% | — | 47.4% | 52% | ||||
Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.5% | — | 47.4% | 52% | ||||
| 57.3% |
| 56.5% |
| 48.3% |
| 40.8% |
| EBITDA margin % | 35.5% | 25.6% | 26.2% | 30.5% | 30.3% | 33% | 26.4% | 17.7% |
| EBIT margin % | 27.5% | 22.9% | 23.2% | 27.9% | 27.7% | 30.7% | 24.5% | 15.9% |
| PAT margin % | 66.8% | 15.7% | 20% | 26.2% | 35.7% | 42.4% | 54.6% | 53.9% |
| Working capital | ||||||||
| Receivable days | — | 36 | 39 | 36 | 35 | 31 | 37 | 38 |
| Inventory days | — | 1,291 | 2,701 | 2,674 | 2,903 | 2,764 | 2,175 | 1,861 |
| Payable days | — | 121 | 158 | 203 | 246 | 234 | 200 | 129 |
| NWC days | — | 1,205 | 2,582 | 2,506 | 2,692 | 2,561 | 2,012 | 1,769 |
| Leverage | ||||||||
| Current ratio | — | 1.21 | 2.08 | 2.29 | 2.31 | 2.34 | 1.86 | 1.59 |
| Debt to EBITDA | — | 6.9 | 4.7 | 2.27 | 1.93 | 2.28 | 1.95 | 0.03 |
| Debt to equity | — | 0.45 | 0.19 | 0.11 | 0.09 | 0.12 | 0.1 | 0 |
| Interest coverage | 0.9 | 1.3 | 2.1 | 3.2 | 4.8 | 7 | 7.5 | 14.7 |
| Asset turnover | — | 0.13 | 0.1 | 0.11 | 0.11 | 0.11 | 0.12 | 0.11 |
| Return ratios | ||||||||
| Return on assets % | — | 2% | 2% | 2.9% | 3.8% | 4.5% | 6.3% | 5.9% |
| Return on capital employed % | — | 6.3% | 4.3% | 4.8% | 4.5% | 5.6% | 6.3% | 6.1% |
| Return on equity % | — | 4% | 3.1% | 4.1% | 5.4% | 6.9% | 10.3% | 9.7% |
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.