Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 53.5% | 50.9% | 49.1% | 45% | 46.9% | 43.4% |
| EBITDA margin % | 31.5% | 32.9% | 31.5% | 24.9% | 27.9% | 22.4% |
| EBIT margin % | 22.7% | 27.3% | 26.5% | 18.5% | 22.7% | 15.8% |
| PAT margin % | 12.2% | 16.3% | 16.1% | 10.2% | 14% | 13.1% |
| Working capital | ||||||
| Receivable days | 52 | 60 | 28 | 34 | 33 | 60 |
| Inventory days | 51 | 74 | 69 | 90 | 105 | 89 |
| Payable days | 69 | 42 | 36 | 57 | 50 | 66 |
| NWC days | 34 | 92 | 61 | 67 | 88 | 83 |
| Leverage | ||||||
| Current ratio | 0.47 | 0.84 | 0.65 | 0.64 | 1.57 | 1.16 |
| Debt to EBITDA | 2.06 | 1.94 | 1.27 | 2 | 0.82 | 0.99 |
| Debt to equity | 0.79 | 1.36 | 0.82 | 0.77 | 0.31 | 0.25 |
| Interest coverage | 6.5 | 9.7 | 9 | 5 | 11.1 | 5.7 |
| Asset turnover | 0.57 | 0.73 | 0.9 | 0.69 | 0.81 | 0.72 |
| Return ratios | ||||||
| Return on assets % | 7% | 11.9% | 14.5% | 7% | 11.3% | 9.5% |
| Return on capital employed % | 17.9% | 32.3% | 34.8% | 19.2% | 25.4% | 15.2% |
| Return on equity % | 14.7% | 34.8% | 33% | 15.6% | 18.8% | 14.9% |
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.