Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 70.9% | 68.3% | 68.1% | 65.5% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 70.9% | 68.3% | 68.1% | 65.5% | ||||
| 69% |
| 70.7% |
| 69.4% |
| 63.7% |
| EBITDA margin % | 20.6% | 14.1% | 20.3% | 17.5% | 25.7% | 28.3% | 26.2% | 19.2% |
| EBIT margin % | 13.2% | 7.5% | 13.9% | 12.1% | 20.7% | 23.1% | 21% | 13% |
| PAT margin % | 12.6% | 11.6% | 10.3% | 10.1% | 18.3% | 19.9% | 17.5% | 12.3% |
| Working capital | ||||||||
| Receivable days | — | — | 95 | 113 | 107 | 105 | 101 | 110 |
| Inventory days | — | — | 273 | 250 | 232 | 283 | 260 | 228 |
| Payable days | — | — | 109 | 111 | 108 | 116 | 97 | 91 |
| NWC days | — | — | 259 | 252 | 231 | 271 | 264 | 247 |
| Leverage | ||||||||
| Current ratio | — | — | 1.79 | 1.82 | 2.41 | 2.59 | 1.92 | 1.8 |
| Debt to EBITDA | — | — | 0.7 | 0.82 | 0.21 | 0.21 | 0.49 | 0.98 |
| Debt to equity | — | — | 0.15 | 0.16 | 0.06 | 0.06 | 0.12 | 0.17 |
| Interest coverage | 26.8 | 19.6 | 30.2 | 32.2 | 43.1 | 43 | 28.1 | 15.4 |
| Asset turnover | — | — | 0.72 | 0.72 | 0.76 | 0.72 | 0.66 | 0.58 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.3% | 7.3% | 14% | 14.4% | 11.6% | 7.2% |
| Return on capital employed % | — | — | 15.8% | 16% | 28.2% | 27.8% | 24.2% | 14.8% |
| Return on equity % | — | — | 11.1% | 11.4% | 19.4% | 19.7% | 17.1% | 11% |
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.