Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 23.7% | 24.3% | 21.2% | 22.6% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 23.7% | 24.3% | 21.2% | 22.6% | ||||
| 23.3% |
| 24.1% |
| 22.3% |
| 23.8% |
| EBITDA margin % | 7% | 8.5% | 7.7% | 8% | 10.7% | 13.2% | 12.8% | 12.1% |
| EBIT margin % | 6.4% | 7.9% | 7.3% | 7.6% | 10.4% | 12.9% | 12.6% | 11.9% |
| PAT margin % | 3.2% | 3.3% | 3.6% | 4.4% | 0.4% | 8.8% | 9% | 9.4% |
| Working capital | ||||||||
| Receivable days | 224 | 288 | 260 | 254 | 186 | 254 | 223 | 234 |
| Inventory days | 3 | 5 | 4 | 5 | 7 | 6 | 5 | 4 |
| Payable days | 2 | 2 | — | 181 | 172 | 173 | 149 | 153 |
| NWC days | 225 | 290 | — | 78 | 20 | 87 | 79 | 85 |
| Leverage | ||||||||
| Current ratio | 1.28 | 1.29 | 1.29 | 1.37 | 1.33 | 1.68 | 1.7 | 1.71 |
| Debt to EBITDA | 3.01 | 2.22 | 2.38 | 1.81 | 0.67 | 0.75 | 0.85 | 0.48 |
| Debt to equity | 0.74 | 0.54 | 0.58 | 0.37 | 0.14 | 0.15 | 0.17 | 0.09 |
| Interest coverage | 2.4 | 2.2 | 2.4 | 3 | 5.5 | 5.8 | 5.9 | 7.8 |
| Asset turnover | 0.74 | 0.64 | 0.7 | 0.74 | 0.72 | 0.62 | 0.63 | 0.64 |
| Return ratios | ||||||||
| Return on assets % | 2.4% | 2.1% | 2.5% | 3.3% | 0.3% | 5.5% | 5.6% | 6% |
| Return on capital employed % | 13.8% | 16.9% | 14.9% | 15.8% | 19.7% | 19.3% | 17.8% | 19.2% |
| Return on equity % | 11.3% | 9.4% | 11.2% | 11.5% | 0.7% | 13.8% | 13.8% | 14.4% |
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.