Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 58.3% | 44% | 41.4% | 43% | 46.8% | 52.1% |
Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 58.3% | 44% | 41.4% | 43% | 46.8% | 52.1% |
| EBITDA margin % | 29.3% | 24.8% | 24% | 25.8% | 28.5% | 34.9% |
| EBIT margin % | 25.5% | 22.8% | 21.5% | 21.9% | 22.8% | 28.7% |
| PAT margin % | 15.4% | 18.5% | 20% | 17.8% | 20.5% | 26.9% |
| Working capital | ||||||
| Receivable days | 20 | 5 | 4 | 4 | 4 | 4 |
| Inventory days | 3,122 | 1,464 | 1,350 | 1,447 | 1,729 | 2,337 |
| Payable days | 146 | 25 | 34 | 23 | 35 | 56 |
| NWC days | 2,996 | 1,444 | 1,320 | 1,428 | 1,698 | 2,286 |
| Leverage | ||||||
| Current ratio | 1.15 | 1.06 | 1.04 | 1.03 | 1.13 | 1.31 |
| Debt to EBITDA | 1.6 | 0.85 | 0.85 | 1.82 | 1.49 | 1.51 |
| Debt to equity | 0.57 | 0.33 | 0.28 | 0.61 | 0.47 | 0.4 |
| Interest coverage | 3 | 10.4 | 13.3 | 10 | 6.9 | 7.4 |
| Asset turnover | 0.23 | 0.32 | 0.32 | 0.27 | 0.27 | 0.22 |
| Return ratios | ||||||
| Return on assets % | 3.5% | 6% | 6.3% | 4.8% | 5.6% | 6% |
| Return on capital employed % | 28.6% | 37.7% | 33% | 30.3% | 25.9% | 22.1% |
| Return on equity % | 18.7% | 28.9% | 27.9% | 23.2% | 22.6% | 20.4% |
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.