Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 72.9% | 71.9% | 74.1% | 73.2% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 72.9% | 71.9% | 74.1% | 73.2% | ||||
| 75.7% |
| 78% |
| 79.6% |
| 80.3% |
| EBITDA margin % | 21.7% | 21.3% | 25.4% | 26.9% | 26.5% | 26.9% | 29.1% | 30.3% |
| EBIT margin % | 15.7% | 15% | 19.1% | 21.4% | 20.8% | 21.6% | 24.1% | 25.3% |
| PAT margin % | 11% | 12.7% | 6.8% | 8.8% | 19.4% | 19.8% | 20.9% | 19.7% |
| Working capital | ||||||||
| Receivable days | — | 105 | 99 | 99 | 95 | 85 | 91 | 97 |
| Inventory days | — | 311 | 378 | 315 | 360 | 338 | 348 | 363 |
| Payable days | — | 142 | 167 | 158 | 194 | 194 | 210 | 232 |
| NWC days | — | 274 | 310 | 255 | 261 | 229 | 228 | 228 |
| Leverage | ||||||||
| Current ratio | — | 2.02 | 1.89 | 2.03 | 2 | 2.56 | 2.89 | 2.82 |
| Debt to EBITDA | — | 1.08 | 0.41 | 0.09 | 0.53 | 0.22 | 0.12 | 0.23 |
| Debt to equity | — | 0.17 | 0.08 | 0.02 | 0.11 | 0.04 | 0.03 | 0.05 |
| Interest coverage | 10 | 18.4 | 51.2 | 72 | 56.7 | 49.6 | 63.4 | 49.5 |
| Asset turnover | — | 0.48 | 0.5 | 0.55 | 0.54 | 0.57 | 0.57 | 0.54 |
| Return ratios | ||||||||
| Return on assets % | — | 6.1% | 3.4% | 4.9% | 10.5% | 11.2% | 11.9% | 10.6% |
| Return on capital employed % | — | 10.6% | 13.9% | 17.6% | 17.2% | 18.3% | 20.6% | 20.9% |
| Return on equity % | — | 9.2% | 4.9% | 7.1% | 15.2% | 15.1% | 15.2% | 13.8% |
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.