Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 36.8% | 36.5% | 37.6% | 39.5% | 36.9% | 37.5% |
| EBITDA margin % | 14.8% | 15.7% | 15.4% | 10.5% | 8.4% | 10.7% |
| EBIT margin % | 12.2% | 13.7% | 13.4% | 7.8% | 5.2% | 6.8% |
| PAT margin % | 7.3% | 8.2% | 9% | 4.5% | 3.2% | 3.4% |
| Working capital | ||||||
| Receivable days | 68 | 81 | 94 | 96 | 144 | 139 |
| Inventory days | 92 | 90 | 106 | 165 | 170 | 159 |
| Payable days | 84 | 72 | 68 | 97 | 122 | 150 |
| NWC days | 76 | 99 | 132 | 164 | 192 | 148 |
| Leverage | ||||||
| Current ratio | 1.2 | 1.31 | 2.27 | 2.23 | 1.92 | 1.78 |
| Debt to EBITDA | 1.33 | 1.18 | 0.65 | 1.43 | 2.29 | 4.04 |
| Debt to equity | 0.4 | 0.42 | 0.16 | 0.15 | 0.12 | 0.33 |
| Interest coverage | 4.8 | 6.6 | 13.8 | 4.5 | 4.6 | 2.2 |
| Asset turnover | 1.16 | 1.27 | 1.12 | 0.71 | 0.47 | 0.48 |
| Return ratios | ||||||
| Return on assets % | 8.5% | 10.5% | 10.1% | 3.2% | 1.5% | 1.6% |
| Return on capital employed % | 22.1% | 31.2% | 24.8% | 8.7% | 5.4% | 4.8% |
| Return on equity % | 15% | 18.8% | 14.4% | 4.4% | 2% | 2.6% |
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.