Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 46.1% | 44.2% | 47.5% | 47.8% |
| EBITDA margin % | 13.9% | 12.3% | ||
| 12.4% |
| 14.7% |
| EBIT margin % | 11.2% | 9.5% | 9.5% | 11.9% |
| PAT margin % | 9% | 8% | 6.3% | 9.5% |
| Working capital | ||||
| Receivable days | 75 | 84 | 78 | 85 |
| Inventory days | 187 | 166 | 165 | 169 |
| Payable days | 59 | 62 | 73 | 83 |
| NWC days | 203 | 187 | 171 | 171 |
| Leverage | ||||
| Current ratio | 2.9 | 2.91 | 3.21 | 2.6 |
| Debt to EBITDA | 0.96 | 1.03 | 1.13 | 1.55 |
| Debt to equity | 0.17 | 0.15 | 0.16 | 0.26 |
| Interest coverage | 11.6 | 15 | 19.6 | 14.2 |
| Asset turnover | 0.94 | 0.89 | 0.83 | 0.79 |
| Return ratios | ||||
| Return on assets % | 8.5% | 7.1% | 5.3% | 7.5% |
| Return on capital employed % | 16.6% | 14% | 13.4% | 15.4% |
| Return on equity % | 11.5% | 9.5% | 7.1% | 11.1% |
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.