Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 97.7% | 98.1% | 98.8% | — | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 97.7% | 98.1% | 98.8% | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 19.7% | 20.2% | 23.9% | 21% | 18.6% | 18.7% | 20.2% | 19.2% |
| EBIT margin % | 16.4% | 16.8% | 19.4% | 17.2% | 14.9% | 14.9% | 16.9% | 16.1% |
| PAT margin % | 15.3% | 16% | 17.6% | 15.4% | 12.6% | 12.4% | 14.8% | 14.3% |
| Working capital | ||||||||
| Receivable days | 65 | — | 58 | 55 | 51 | 47 | 48 | 54 |
| Inventory days | 108 | — | 53 | 1 | 1 | 0 | 0 | 0 |
| Payable days | 1,707 | — | 2,601 | 36 | 30 | 29 | 30 | 31 |
| NWC days | -1,534 | — | -2,489 | 20 | 22 | 19 | 18 | 23 |
| Leverage | ||||||||
| Current ratio | 2.67 | — | 2.27 | 2.01 | 2.47 | 2.58 | 2.72 | 2.05 |
| Debt to EBITDA | 0.83 | — | 0.56 | 0.91 | 0.89 | 0.84 | 0.9 | 0.94 |
| Debt to equity | 0.17 | — | 0.15 | 0.23 | 0.19 | 0.19 | 0.2 | 0.19 |
| Interest coverage | 16.7 | 17.7 | 28.3 | 29.4 | 15.7 | 12.7 | 12.8 | 12.9 |
| Asset turnover | 0.71 | — | 0.75 | 0.74 | 0.77 | 0.78 | 0.69 | 0.66 |
| Return ratios | ||||||||
| Return on assets % | 10.9% | — | 13.1% | 11.4% | 9.7% | 9.7% | 10.3% | 9.4% |
| Return on capital employed % | 21.2% | — | 24.1% | 23% | 18.9% | 17.8% | 20% | 18.7% |
| Return on equity % | 16% | — | 19.8% | 18.7% | 14.6% | 14.9% | 16% | 15.1% |
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.