Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 46% | 50.4% | 50.7% | 51% |
| EBITDA margin % | 19.5% | 19.5% | ||
| 17.1% |
| 18% |
| EBIT margin % | 16.6% | 15.8% | 13% | 13.7% |
| PAT margin % | 12.4% | 12.1% | 11% | 11.3% |
| Working capital | ||||
| Receivable days | 66 | 80 | 88 | 80 |
| Inventory days | 153 | 170 | 197 | 211 |
| Payable days | 46 | 49 | 37 | 40 |
| NWC days | 174 | 201 | 247 | 251 |
| Leverage | ||||
| Current ratio | 2.23 | 5.08 | 5.43 | 5.22 |
| Debt to EBITDA | 0.63 | 0.23 | 0.16 | 0.17 |
| Debt to equity | 0.27 | 0.05 | 0.03 | 0.03 |
| Interest coverage | 16.8 | 16.6 | 31.3 | 37 |
| Asset turnover | 1.38 | 0.88 | 0.89 | 0.91 |
| Return ratios | ||||
| Return on assets % | 17.1% | 10.7% | 9.8% | 10.3% |
| Return on capital employed % | 33.6% | 23% | 16.1% | 16.7% |
| Return on equity % | 26.9% | 13.2% | 11.7% | 12.4% |
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.