Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.2% | 38.3% | 38% | 30.5% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.2% | 38.3% | 38% | 30.5% | ||||
| 30.2% |
| 35.3% |
| 35.2% |
| 35.5% |
| EBITDA margin % | 13.9% | 15.2% | 17% | 10.2% | 10.8% | 13.2% | 12.1% | 12.1% |
| EBIT margin % | 11.9% | 12.5% | 13.8% | 7.5% | 8.5% | 10.7% | 9.5% | 9.3% |
| PAT margin % | 8.3% | 9.8% | 10.4% | 5.4% | 6.2% | 15.1% | 14.2% | 7.2% |
| Working capital | ||||||||
| Receivable days | 51 | 54 | 69 | 63 | 60 | 62 | 63 | 67 |
| Inventory days | 117 | 113 | 139 | 134 | 120 | 122 | 120 | 107 |
| Payable days | — | — | — | — | 70 | 79 | 79 | 82 |
| NWC days | — | — | — | — | 109 | 105 | 104 | 92 |
| Leverage | ||||||||
| Current ratio | 2.44 | 2.71 | 2.56 | 2.44 | 2.64 | 3.25 | 3.69 | 3.48 |
| Debt to EBITDA | 0.13 | 0.22 | 0.2 | 0.31 | 0.2 | 0.12 | 0.13 | 0.08 |
| Debt to equity | 0.03 | 0.05 | 0.04 | 0.05 | 0.04 | 0.02 | 0.02 | 0.01 |
| Interest coverage | 70.9 | 32.9 | 31 | 17.7 | 22.9 | 31.8 | 28.2 | 27.6 |
| Asset turnover | 1.2 | 1.08 | 0.92 | 1.12 | 1.2 | 1.05 | 0.95 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | 9.9% | 10.6% | 9.5% | 6% | 7.4% | 15.9% | 13.5% | 6.6% |
| Return on capital employed % | 20.8% | 18.3% | 17.8% | 11.6% | 14.5% | 17.4% | 13.9% | 12.9% |
| Return on equity % | 13.1% | 13.7% | 13% | 8.3% | 10.3% | 21.1% | 17.3% | 8.6% |
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.