Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | 22.8% | 21.9% |
| EBITDA margin % | 13.5% | 13% | 12.7% | 12% | 12.9% | 12.6% |
| EBIT margin % | 11% | 11.2% | 11.3% | 9.1% | 9.2% | 8.6% |
| PAT margin % | 6% | 7.4% | 7.2% | 4.9% | 4.6% | 4.5% |
| Working capital | ||||||
| Receivable days | — | — | — | — | 54 | 41 |
| Inventory days | — | — | — | — | 149 | 113 |
| Payable days | — | — | — | — | 65 | 31 |
| NWC days | — | — | — | — | 138 | 123 |
| Leverage | ||||||
| Current ratio | 1.62 | 1.96 | 2.12 | 1.68 | 1.45 | 1.68 |
| Debt to EBITDA | 2.34 | 1.56 | 3.62 | 2.68 | 2.28 | 1.93 |
| Debt to equity | 1.13 | 0.87 | 0.79 | 0.8 | 0.7 | 0.63 |
| Interest coverage | 3.8 | 6.2 | 7.1 | 3.4 | 2.9 | 2.9 |
| Asset turnover | 1.46 | 1.99 | 0.91 | 1.31 | 1.13 | 1.37 |
| Return ratios | ||||||
| Return on assets % | 8.7% | 14.8% | 6.5% | 6.5% | 5.2% | 6.2% |
| Return on capital employed % | 26.5% | 41% | 22.7% | 20% | 20.1% | 20.8% |
| Return on equity % | 21.4% | 31.6% | 12.3% | 12.2% | 10.8% | 11.7% |
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.