Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 53.9% | 56.1% | 58% | 59.1% |
| EBITDA margin % | 28.5% | 28.5% | 28.9% | 30.4% |
| EBIT margin % | 24% | 23.8% | 23.4% | 24.7% |
| PAT margin % | 17.4% | 17.9% | 19% | 19.5% |
| Working capital | ||||
| Receivable days | 94 | 96 | 111 | 93 |
| Inventory days | 112 | 137 | 143 | 134 |
| Payable days | 32 | 34 | 28 | 34 |
| NWC days | 175 | 199 | 226 | 193 |
| Leverage | ||||
| Current ratio | 1.91 | 3.07 | 2.81 | 2.35 |
| Debt to EBITDA | 0.64 | 0.37 | 0.56 | 0.7 |
| Debt to equity | 0.22 | 0.09 | 0.12 | 0.15 |
| Interest coverage | 23.4 | 28.5 | 48.7 | 39.4 |
| Asset turnover | 0.9 | 0.72 | 0.64 | 0.59 |
| Return ratios | ||||
| Return on assets % | 15.7% | 12.9% | 12.1% | 11.5% |
| Return on capital employed % | 27.3% | 24.8% | 20.8% | 20.3% |
| Return on equity % | 21.1% | 15.1% | 14.5% | 14.2% |
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.