Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 40.1% | 40.1% | 37.7% | 41% | 42.1% | 42.5% |
| EBITDA margin % | — | 13% | 11.4% | 12.8% | 13% | 12.7% |
| EBIT margin % | — | 11.4% | 10.1% | 11.2% | 11.5% | 11% |
| PAT margin % | 9.6% | 9.6% | 7.8% | 9.3% | 9.8% | 8.5% |
| Working capital | ||||||
| Receivable days | — | 56 | 50 | 55 | 50 | 48 |
| Inventory days | — | 133 | 92 | 93 | 88 | 93 |
| Payable days | — | 75 | 8 | 93 | 97 | 103 |
| NWC days | — | 113 | 134 | 55 | 41 | 38 |
| Leverage | ||||||
| Current ratio | — | 1.98 | 1.97 | 1.94 | 1.92 | 1.85 |
| Debt to EBITDA | — | 1.25 | 0.97 | 0.79 | 0.89 | 1 |
| Debt to equity | — | 0.34 | 0.28 | 0.26 | 0.29 | 0.33 |
| Interest coverage | 0.9 | 30.6 | 9.3 | 16.9 | 14.3 | 9.6 |
| Asset turnover | — | 1.2 | 1.45 | 1.37 | 1.32 | 1.35 |
| Return ratios | ||||||
| Return on assets % | — | 11.5% | 11.2% | 12.8% | 13% | 11.4% |
| Return on capital employed % | — | 27.2% | 30.4% | 33.1% | 34.1% | 33.1% |
| Return on equity % | — | 20.2% | 19.7% | 23.8% | 24.4% | 22.4% |
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.