Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 72.4% | 60.1% | 55.4% | 54.8% | 71.7% | 73.4% |
| EBITDA margin % | 29.4% | 17.1% | 20.8% | 20% | 28.9% | 22.8% |
| EBIT margin % | 23.8% | 13% | 16.7% | 15.8% | 23% | 16.9% |
| PAT margin % | 8.1% | 9.1% | 13.1% | 12.9% | 10.2% | 17.8% |
| Working capital | ||||||
| Receivable days | 55 | 34 | 22 | 45 | 57 | 49 |
| Inventory days | 61 | 20 | 99 | 34 | 90 | 129 |
| Payable days | 238 | 127 | 101 | 89 | 139 | 142 |
| NWC days | -122 | -72 | 20 | -10 | 8 | 36 |
| Leverage | ||||||
| Current ratio | 1.47 | 1.57 | 1.56 | 2.01 | 2.19 | 1.65 |
| Debt to EBITDA | 0.74 | 0.36 | 0.22 | 0.14 | 0.18 | 0.25 |
| Debt to equity | 0.25 | 0.08 | 0.05 | 0.03 | 0.04 | 0.04 |
| Interest coverage | 9.9 | 13.5 | 19.1 | 18.5 | 14.9 | 16.4 |
| Asset turnover | 0.72 | 0.9 | 0.79 | 0.71 | 0.52 | 0.48 |
| Return ratios | ||||||
| Return on assets % | 5.8% | 8.2% | 10.3% | 9.1% | 5.3% | 8.6% |
| Return on capital employed % | 22.1% | 16% | 20.7% | 17.6% | 17.4% | 14.4% |
| Return on equity % | 9.4% | 11.7% | 15.4% | 12.2% | 7.1% | 12% |
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.