Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 16.9% | 18.3% | 21.5% | 28.8% |
| EBITDA margin % | 7% | 8% | 8% | 13.4% |
| EBIT margin % | 6.6% | 7.4% | 6.9% | 12.1% |
| PAT margin % | 4.7% | 4.1% | 11.3% | 8.7% |
| Working capital | ||||
| Receivable days | 98 | 96 | 122 | 121 |
| Inventory days | 98 | 82 | 130 | 134 |
| Payable days | — | — | — | 194 |
| NWC days | — | — | — | 61 |
| Leverage | ||||
| Current ratio | 1.18 | 1.32 | 1.13 | 1.53 |
| Debt to EBITDA | 2.55 | 1.82 | 1.67 | 0.2 |
| Debt to equity | 1.31 | 0.96 | 0.41 | 0.06 |
| Interest coverage | 7 | 7.1 | 5.4 | 17.3 |
| Asset turnover | 1.34 | 1.69 | 0.98 | 1.06 |
| Return ratios | ||||
| Return on assets % | 6.3% | 7% | 11.1% | 9.2% |
| Return on capital employed % | 43.8% | 51.9% | 29.1% | 33.8% |
| Return on equity % | 34.8% | 27.1% | 34.5% | 19.6% |
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.