Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 65% | 67.3% | 67.7% | 70% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 65% | 67.3% | 67.7% | 70% | ||||
| 72.9% |
| 66.8% |
| 68.8% |
| 67.1% |
| EBITDA margin % | 28.9% | 18.1% | 25.4% | 30.3% | 36% | 22.3% | 24.4% | 25.8% |
| EBIT margin % | 22.9% | 10.7% | 17.8% | 25.1% | 31.9% | 15.6% | 16.9% | 18.5% |
| PAT margin % | 45.7% | 7.3% | -8.4% | 19.6% | 23.3% | 10.2% | 11.5% | 11.5% |
| Working capital | ||||||||
| Receivable days | 77 | 79 | 92 | 72 | 71 | 72 | 92 | 94 |
| Inventory days | 245 | 349 | 368 | 291 | 352 | 404 | 449 | 430 |
| Payable days | 0 | 0 | 144 | 158 | 164 | 133 | 149 | 123 |
| NWC days | 322 | 427 | 316 | 205 | 259 | 342 | 392 | 401 |
| Leverage | ||||||||
| Current ratio | — | — | 1.06 | 1.28 | 1.48 | 1.36 | 1.7 | 1.72 |
| Debt to EBITDA | 1.13 | 3.22 | 2.1 | 1.17 | 0.72 | 2.09 | 1.72 | 1.7 |
| Debt to equity | 0.25 | 0.41 | 0.4 | 0.33 | 0.27 | 0.34 | 0.27 | 0.28 |
| Interest coverage | 12.6 | 4.4 | 5.3 | 14.3 | 16.3 | 5.5 | 5.9 | 7 |
| Asset turnover | 0.55 | 0.43 | 0.44 | 0.57 | 0.68 | 0.46 | 0.45 | 0.42 |
| Return ratios | ||||||||
| Return on assets % | 25.3% | 3.1% | -3.7% | 11.3% | 15.8% | 4.7% | 5.1% | 4.8% |
| Return on capital employed % | 15.1% | 8.9% | 12% | 24.6% | 34.6% | 11.4% | 11.6% | 11.1% |
| Return on equity % | 35.5% | 5.1% | -6.3% | 18.2% | 24% | 7.3% | 7.5% | 7.3% |
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.