Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 40.1% | 37.8% | 39.2% | 43.7% | 29.6% | 25.6% |
| EBITDA margin % | 11% | 8.8% | 7.2% | 19.6% | 12% | 12.6% |
| EBIT margin % | 9.5% | 7.5% | 5.7% | 16.9% | 10.6% | 11.1% |
| PAT margin % | 6.8% | 6.4% | 7.5% | 15.2% | 13.1% | 12.2% |
| Working capital | ||||||
| Receivable days | 55 | 67 | — | 75 | 37 | 92 |
| Inventory days | 51 | 74 | — | 188 | 135 | 153 |
| Payable days | 61 | 74 | — | 113 | 49 | 58 |
| NWC days | 45 | 67 | — | 150 | 123 | 187 |
| Leverage | ||||||
| Current ratio | 1.98 | 1.95 | — | 4.02 | 4.06 | 3.66 |
| Debt to EBITDA | 1.13 | 1.88 | — | 0.34 | 0.62 | 1.65 |
| Debt to equity | 0.19 | 0.23 | — | 0.03 | 0.05 | 0.16 |
| Interest coverage | 8.3 | 6.8 | 5.7 | 6.4 | 6.9 | 6.5 |
| Asset turnover | 1.01 | 0.9 | — | 0.38 | 0.54 | 0.5 |
| Return ratios | ||||||
| Return on assets % | 6.9% | 5.8% | — | 5.7% | 7.1% | 6% |
| Return on capital employed % | 15.5% | 14.3% | — | 10.3% | 12.5% | 11.3% |
| Return on equity % | 10.2% | 8.9% | — | 7.7% | 9.7% | 9.4% |
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.