Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | — | 93.4% | — | 94.1% |
| EBITDA margin % | 44% | 34.8% | 30.2% | 22.1% |
| EBIT margin % | 39.2% | 29.5% | 22.6% | 13.5% |
| PAT margin % | 26.6% | 24% | 15.6% | 9.8% |
| Working capital | ||||
| Receivable days | 30 | 43 | 58 | 43 |
| Inventory days | 76 | 530 | 84 | 1,221 |
| Payable days | 43 | 416 | 53 | 598 |
| NWC days | 62 | 157 | 89 | 666 |
| Leverage | ||||
| Current ratio | 3.35 | 5.38 | 3.5 | 1.21 |
| Debt to EBITDA | 0.03 | 0.13 | 0.57 | 1.95 |
| Debt to equity | 0.02 | 0.03 | 0.1 | 0.24 |
| Interest coverage | 6.3 | 51.5 | 33.6 | 6.7 |
| Asset turnover | 0.82 | 0.65 | 0.43 | 0.41 |
| Return ratios | ||||
| Return on assets % | 21.8% | 15.5% | 6.8% | 4% |
| Return on capital employed % | 38.4% | 24.9% | 13.2% | 7.8% |
| Return on equity % | 26.7% | 18.7% | 8.7% | 5.4% |
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.