Consolidated figures
| Ratio | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Margins | |||
| Gross margin % | 30.5% | 31.4% | 32.8% |
| EBITDA margin % | 11.5% | 10% | 6.6% |
| EBIT margin % | 10.2% | 8.6% | 5.4% |
| PAT margin % | 6.7% | 5.5% | 2.2% |
| Working capital | |||
| Receivable days | 63 | 66 | 59 |
| Inventory days | 245 | 284 | 315 |
| Payable days | — | 30 | 27 |
| NWC days | — | 319 | 348 |
| Leverage | |||
| Current ratio | 1.59 | 2.09 | 2 |
| Debt to EBITDA | 3.94 | 3.47 | 6.05 |
| Debt to equity | 1.41 | 0.68 | 0.75 |
| Interest coverage | 3.3 | 3.2 | 1.8 |
| Asset turnover | 1.04 | 0.98 | 0.92 |
| Return ratios | |||
| Return on assets % | 7% | 5.4% | 2% |
| Return on capital employed % | 26.7% | 21.5% | 10.7% |
| Return on equity % | 20.8% | 10.9% | 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.