Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 25.7% | 25.5% | 29.5% | 30.5% | 29.4% | 32.8% |
| EBITDA margin % | 19% | 18.8% | 21.6% | 22.6% | 23% | 24.1% |
| EBIT margin % | 14.7% | 15.1% | 18.1% | 19.5% | 20.3% | 21.7% |
| PAT margin % | 5.1% | 6% | 6.3% | 8.4% | 10% | 11.9% |
| Working capital | ||||||
| Receivable days | — | 205 | 180 | 231 | 155 | 194 |
| Inventory days | — | 597 | 594 | 612 | 553 | 478 |
| Payable days | — | 258 | 195 | 234 | 255 | 230 |
| NWC days | — | 543 | 579 | 609 | 452 | 443 |
| Leverage | ||||||
| Current ratio | — | 1.87 | 1.98 | 1.98 | 1.78 | 1.9 |
| Debt to EBITDA | — | 2.52 | 2.2 | 2.36 | 2.56 | 2.44 |
| Debt to equity | — | 0.36 | 0.37 | 0.38 | 0.55 | 0.41 |
| Interest coverage | 1.9 | 2.2 | 2.4 | 2.5 | 3.4 | 4.3 |
| Asset turnover | — | 0.41 | 0.43 | 0.39 | 0.43 | 0.38 |
| Return ratios | ||||||
| Return on assets % | — | 2.4% | 2.7% | 3.3% | 4.3% | 4.5% |
| Return on capital employed % | — | 11% | 14.5% | 15.2% | 18.1% | 18.2% |
| Return on equity % | — | 4.6% | 4.9% | 6% | 9.3% | 8.2% |
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.