Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 38.9% | 43.6% | 44.3% | 42.9% | 43.7% | 45.1% |
Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 38.9% | 43.6% | 44.3% | 42.9% | 43.7% | 45.1% |
| EBITDA margin % | 6.4% | 4.3% | 5% | 5.4% | 6% | 7.5% |
| EBIT margin % | 3.5% | 1.8% | 1.6% | 1.9% | 2.6% | 4.3% |
| PAT margin % | 2.5% | 1.1% | 0.4% | 0.6% | 0.9% | 2% |
| Working capital | ||||||
| Receivable days | 11 | 9 | 12 | 14 | 11 | 11 |
| Inventory days | 122 | 150 | 128 | 119 | 116 | 109 |
| Payable days | 77 | 62 | 34 | 39 | 52 | 49 |
| NWC days | 56 | 97 | 106 | 94 | 75 | 71 |
| Leverage | ||||||
| Current ratio | 1.39 | 2 | 1.59 | 1.22 | 1.24 | 1.16 |
| Debt to EBITDA | 1.2 | 2.04 | 1.8 | 1.97 | 2.03 | 0.99 |
| Debt to equity | 0.38 | 0.25 | 0.33 | 0.54 | 0.74 | 0.52 |
| Interest coverage | 3.2 | 2 | 1.5 | 1.8 | 2.2 | 4 |
| Asset turnover | 1.87 | 1.43 | 1.74 | 1.88 | 2 | 2.17 |
| Return ratios | ||||||
| Return on assets % | 4.7% | 1.6% | 0.7% | 1.2% | 1.8% | 4.4% |
| Return on capital employed % | 15.9% | 8.2% | 6.6% | 9.3% | 14.1% | 25.3% |
| Return on equity % | 12.6% | 3.1% | 1.5% | 3.1% | 5.5% | 14.2% |
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.