Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 34.8% | 33.8% | 32% | 35.8% | 42.6% | 44.1% |
Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 34.8% | 33.8% | 32% | 35.8% | 42.6% | 44.1% |
| EBITDA margin % | 12.6% | 16.9% | 11.8% | 14.6% | 17.7% | 17.4% |
| EBIT margin % | 10.1% | 15.3% | 10.2% | 12.7% | 15.1% | 12.7% |
| PAT margin % | 4.6% | 11.2% | 9.7% | 54.8% | 14% | 12.2% |
| Working capital | ||||||
| Receivable days | 95 | 85 | 84 | 108 | 120 | 112 |
| Inventory days | 109 | 88 | 98 | 101 | 144 | 149 |
| Payable days | 123 | 75 | 61 | 75 | 78 | 95 |
| NWC days | 82 | 98 | 121 | 134 | 185 | 166 |
| Leverage | ||||||
| Current ratio | 2.27 | 1.87 | 2.28 | 4.5 | 4.81 | 4.25 |
| Debt to EBITDA | 2.81 | 1.54 | 1.91 | 0.86 | 0.28 | 0.33 |
| Debt to equity | 0.43 | 0.45 | 0.4 | 0.1 | 0.04 | 0.05 |
| Interest coverage | 2.5 | 7.8 | 9.2 | 34.8 | 20.6 | 22.2 |
| Asset turnover | 0.67 | 0.92 | 0.95 | 0.56 | 0.59 | 0.6 |
| Return ratios | ||||||
| Return on assets % | 3.1% | 10.2% | 9.2% | 30.7% | 8.3% | 7.4% |
| Return on capital employed % | 10% | 25.8% | 21.9% | 63.3% | 14.4% | 12.7% |
| Return on equity % | 5.6% | 19.1% | 17.2% | 42.3% | 11.5% | 10.3% |
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.