Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 38.5% | 40% | 37.5% | 37.6% | 37% | 36.4% |
| EBITDA margin % | 14% | 13.5% | 12.8% | 11.6% | 10.7% | 7.2% |
| EBIT margin % | 12% | 11.7% | 11.4% | 10% | 9.1% | 5.1% |
| PAT margin % | 9.9% | 10.3% | 9.8% | 8.3% | 7.6% | 4.9% |
| Working capital | ||||||
| Receivable days | 113 | 118 | 128 | 145 | 151 | 135 |
| Inventory days | 52 | 70 | 65 | 59 | 63 | 87 |
| Payable days | 219 | 202 | 162 | 173 | 165 | 177 |
| NWC days | -54 | -15 | 31 | 31 | 50 | 44 |
| Leverage | ||||||
| Current ratio | 1.33 | 1.45 | 1.55 | 1.55 | 1.49 | 1.46 |
| Debt to EBITDA | 0.25 | 0.23 | 0.21 | 0.51 | 1.03 | 2.16 |
| Debt to equity | 0.1 | 0.07 | 0.06 | 0.14 | 0.25 | 0.34 |
| Interest coverage | 16.5 | 22.8 | 29 | 23.2 | 22.1 | 9.8 |
| Asset turnover | 1 | 0.97 | 1.03 | 0.96 | 0.92 | 0.86 |
| Return ratios | ||||||
| Return on assets % | 9.9% | 9.9% | 10% | 8% | 7% | 4.2% |
| Return on capital employed % | 38.1% | 36.5% | 33.6% | 26.9% | 22% | 14.3% |
| Return on equity % | 28.3% | 24.7% | 23.4% | 19.2% | 17.2% | 10.7% |
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.