Consolidated figures
| Ratio | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Margins | |||
| Gross margin % | 51.7% | 54.3% | 55.4% |
| EBITDA margin % | 18.1% | 16.4% | 16% |
| EBIT margin % | 16% | 13.9% | 12.8% |
| PAT margin % | 10.7% | 8.5% | 6.8% |
| Working capital | |||
| Receivable days | 149 | 140 | 115 |
| Inventory days | 188 | 211 | 281 |
| Payable days | 156 | 155 | 172 |
| NWC days | 181 | 197 | 224 |
| Leverage | |||
| Current ratio | 1.61 | 1.61 | 1.55 |
| Debt to EBITDA | 2.17 | 2.3 | 2.55 |
| Debt to equity | 0.6 | 0.52 | 0.58 |
| Interest coverage | 8.5 | 5.1 | 3.4 |
| Asset turnover | 0.74 | 0.7 | 0.7 |
| Return ratios | |||
| Return on assets % | 7.9% | 6% | 4.8% |
| Return on capital employed % | 18.2% | 15.6% | 15.3% |
| Return on equity % | 16.2% | 11.6% | 9.7% |
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.