Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 33% | 35.3% | 32.7% | 41% | 40.6% |
| EBITDA margin % | 7.9% | 6.7% | 6.1% | 10.8% | 9.7% |
| EBIT margin % | 6.3% | 5.1% | 4.5% | 8.9% | 7.7% |
| PAT margin % | 3.3% | 3.1% | 2.6% | 5.5% | 5% |
| Working capital | |||||
| Receivable days | 37 | 44 | 38 | 48 | 43 |
| Inventory days | 185 | 168 | 147 | 220 | 236 |
| Payable days | 96 | 71 | 63 | 94 | 89 |
| NWC days | 126 | 141 | 121 | 174 | 190 |
| Leverage | |||||
| Current ratio | 1.26 | 1.24 | 1.19 | 1.22 | 1.28 |
| Debt to EBITDA | 3.19 | 3.86 | 3.47 | 2.28 | 2.63 |
| Debt to equity | 0.79 | 0.82 | 0.69 | 0.63 | 0.58 |
| Interest coverage | 3.5 | 3.3 | 3.7 | 5.8 | 5.4 |
| Asset turnover | 1.16 | 1.19 | 1.2 | 0.95 | 0.89 |
| Return ratios | |||||
| Return on assets % | 3.9% | 3.7% | 3.1% | 5.2% | 4.4% |
| Return on capital employed % | 17.7% | 15.9% | 13.8% | 21.5% | 17.9% |
| Return on equity % | 10.5% | 9.9% | 8.4% | 14.2% | 11.3% |
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.