Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 17.5% | 17.2% | 14% | 18.7% |
| EBITDA margin % | 12% | 9% | 10.1% | 12.2% |
| EBIT margin % | 11.5% | 8.7% | 9.7% | 10.1% |
| PAT margin % | 7.7% | 5.5% | 5.5% | 6.9% |
| Working capital | ||||
| Receivable days | 208 | 80 | 96 | 84 |
| Inventory days | 98 | 112 | 114 | 97 |
| Payable days | 69 | 149 | 119 | 133 |
| NWC days | 238 | 43 | 91 | 48 |
| Leverage | ||||
| Current ratio | 2.17 | 1.6 | 1.43 | 1.55 |
| Debt to EBITDA | 0.99 | 0.87 | 2.33 | 2.51 |
| Debt to equity | 0.2 | 0.18 | 0.64 | 0.43 |
| Interest coverage | 8.8 | 10.1 | 4.6 | 4.2 |
| Asset turnover | 0.98 | 1.04 | 0.97 | 0.68 |
| Return ratios | ||||
| Return on assets % | 7.5% | 5.8% | 5.4% | 4.7% |
| Return on capital employed % | 20.3% | 21.1% | 30.6% | 24% |
| Return on equity % | 13.1% | 13% | 15% | 9.6% |
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.