Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 30.9% | 96.3% | 97.6% | 96.8% | 95.9% | 95.2% |
| EBITDA margin % | 23.6% | 20.5% | 26.9% | 23.7% | 25% | 21.3% |
| EBIT margin % | 20.7% | 17.2% | 24.3% | 21% | 21.7% | 18.9% |
| PAT margin % | 12.2% | 9.8% | 15.3% | 14.7% | 13.7% | 10.8% |
| Working capital | ||||||
| Receivable days | 23 | 29 | 18 | 13 | 11 | 32 |
| Inventory days | 71 | 1,207 | 1,399 | 979 | 645 | 891 |
| Payable days | 49 | 851 | 1,379 | 1,016 | 1,049 | 998 |
| NWC days | 45 | 385 | 38 | -25 | -393 | -75 |
| Leverage | ||||||
| Current ratio | 1.93 | 2.46 | 2.6 | 2.97 | 2.9 | 3.54 |
| Debt to EBITDA | 2.43 | 3.03 | 2.22 | 1.79 | 2.69 | 2.71 |
| Debt to equity | 1.13 | 1.09 | 0.91 | 0.5 | 0.58 | 0.52 |
| Interest coverage | 4.7 | 3.6 | 5.4 | 3.5 | 4 | 3.4 |
| Asset turnover | 0.78 | 0.72 | 0.69 | 0.69 | 0.5 | 0.52 |
| Return ratios | ||||||
| Return on assets % | 9.5% | 7.1% | 10.6% | 10.2% | 6.8% | 5.6% |
| Return on capital employed % | 21.6% | 17.5% | 22.7% | 17.6% | 14.8% | 12.6% |
| Return on equity % | 24% | 17.3% | 23.2% | 17.4% | 12% | 9.6% |
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.