Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 59.3% | 57.7% | 60.8% | |||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 59.3% | 57.7% | 60.8% | |||||
| 58% |
| 56% |
| 58.4% |
| 60.5% |
| 60.5% |
| EBITDA margin % | 17.6% | 13.2% | 18.2% | 16.4% | 15.1% | 15.7% | 15.9% | 15.8% |
| EBIT margin % | 14.7% | 8.5% | 13.3% | 12.5% | 11.6% | 11.9% | 12.1% | 12.1% |
| PAT margin % | 10.1% | 9.1% | 10% | 9.4% | 8.8% | 9.3% | 9.1% | 9.4% |
| Working capital | ||||||||
| Receivable days | 71 | 66 | 89 | 75 | 74 | 80 | 89 | 89 |
| Inventory days | 127 | 136 | 172 | 145 | 135 | 147 | 166 | 175 |
| Payable days | 96 | 92 | 151 | 101 | 79 | 83 | 78 | 91 |
| NWC days | 102 | 110 | 110 | 119 | 130 | 144 | 177 | 173 |
| Leverage | ||||||||
| Current ratio | 1.29 | 1.28 | 1.46 | 1.58 | 1.77 | 1.86 | 1.94 | 2.12 |
| Debt to EBITDA | 1.22 | 1.78 | 1.03 | 0.94 | 0.83 | 0.71 | 0.84 | 0.6 |
| Debt to equity | 0.52 | 0.42 | 0.29 | 0.29 | 0.23 | 0.18 | 0.21 | 0.14 |
| Interest coverage | 15.2 | 7.8 | 19.6 | 22.6 | 17.6 | 22.7 | 22.3 | 22 |
| Asset turnover | 1.23 | 1.02 | 0.93 | 1.14 | 1.22 | 1.14 | 1.08 | 1.06 |
| Return ratios | ||||||||
| Return on assets % | 12.4% | 9.2% | 9.2% | 10.8% | 10.8% | 10.5% | 9.8% | 10% |
| Return on capital employed % | 32.6% | 18.5% | 19.4% | 22.3% | 21.9% | 20.6% | 19.2% | 19.4% |
| Return on equity % | 24.5% | 16.4% | 15.5% | 17.6% | 16.6% | 15.4% | 14.2% | 13.9% |
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.