Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 32.1% | 33.7% | 39.8% | 34.2% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 32.1% | 33.7% | 39.8% | 34.2% | ||||
| 34% |
| 36% |
| 35.8% |
| 36% |
| EBITDA margin % | 14.4% | 14.4% | 16.6% | 15.3% | 16% | 17.7% | 16.9% | 16.6% |
| EBIT margin % | 10.8% | 10.8% | 11.1% | 11.2% | 11.5% | 12.2% | 11.5% | 11.3% |
| PAT margin % | 6.9% | 6.5% | 11.1% | 9.4% | 8.3% | 8.6% | 8.3% | 8.9% |
| Working capital | ||||||||
| Receivable days | 19 | 12 | 14 | 12 | 12 | 13 | 16 | 20 |
| Inventory days | 63 | 67 | 102 | 83 | 87 | 95 | 85 | 88 |
| Payable days | 100 | 87 | 136 | 122 | 91 | 111 | 108 | 84 |
| NWC days | -19 | -9 | -20 | -28 | 7 | -3 | -8 | 24 |
| Leverage | ||||||||
| Current ratio | 0.72 | 0.63 | 1.34 | 1.12 | 1.11 | 1.18 | 1.1 | 1.1 |
| Debt to EBITDA | 3.24 | 3.3 | 3.12 | 2.41 | 2.2 | 2 | 2.1 | 2.09 |
| Debt to equity | 0.7 | 0.65 | 0.36 | 0.34 | 0.38 | 0.41 | 0.41 | 0.41 |
| Interest coverage | 4.3 | 3.6 | 3.3 | 6.6 | 5.8 | 5.5 | 5.4 | 5.6 |
| Asset turnover | 0.58 | 0.52 | 0.37 | 0.48 | 0.52 | 0.52 | 0.5 | 0.49 |
| Return ratios | ||||||||
| Return on assets % | 4% | 3.4% | 4.1% | 4.5% | 4.3% | 4.5% | 4.2% | 4.4% |
| Return on capital employed % | 12% | 11.1% | 7.8% | 8.6% | 9.1% | 9.5% | 9.1% | 9.6% |
| Return on equity % | 10.3% | 8.9% | 7.7% | 8.7% | 9% | 10% | 9.6% | 10.6% |
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.