Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 28.2% | 31.5% | 27.2% | 23.3% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 28.2% | 31.5% | 27.2% | 23.3% | ||||
| 26.5% |
| 29% |
| 30.5% |
| 28.7% |
| EBITDA margin % | 11.6% | 12.9% | 13.1% | 10.4% | 13.1% | 13.8% | 13.2% | 13.9% |
| EBIT margin % | 9.8% | 11% | 11% | 8.7% | 11.6% | 12.5% | 11.9% | 12.5% |
| PAT margin % | 6.3% | 8.7% | 9.9% | 7.5% | 9.1% | 10% | 9.1% | 9.4% |
| Working capital | ||||||||
| Receivable days | 67 | 66 | 59 | 39 | 32 | 41 | 42 | 47 |
| Inventory days | 128 | 116 | 112 | 86 | 104 | 105 | 86 | 99 |
| Payable days | 97 | 82 | 76 | 48 | 72 | 82 | 34 | 32 |
| NWC days | 98 | 101 | 95 | 77 | 65 | 65 | 95 | 114 |
| Leverage | ||||||||
| Current ratio | 1.5 | 2.02 | 2.37 | 2.95 | 2.63 | 2.44 | 2.65 | 1.84 |
| Debt to EBITDA | 0.21 | 0.11 | 0.21 | 0.07 | 0.08 | 0.04 | 0.04 | 0.03 |
| Debt to equity | 0.07 | 0.03 | 0.05 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 |
| Interest coverage | 7.5 | 21.5 | 20.9 | 32.8 | 29.7 | 22.8 | 17 | 15.9 |
| Asset turnover | 1.41 | 1.48 | 1.27 | 1.65 | 1.5 | 1.49 | 1.63 | 1.41 |
| Return ratios | ||||||||
| Return on assets % | 8.9% | 12.8% | 12.6% | 12.4% | 13.6% | 14.9% | 14.9% | 13.2% |
| Return on capital employed % | 31.2% | 30.7% | 24.8% | 21.6% | 28.5% | 32.3% | 30.6% | 33.9% |
| Return on equity % | 17.6% | 20% | 18.6% | 16.5% | 19.3% | 22% | 20.8% | 22.6% |
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.