Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 51.1% | 51.2% | 53.6% | 54.5% | 56.3% | 53.2% |
| EBITDA margin % | 18.9% | 16.9% | 14.7% | 11.6% | 13% | 10.3% |
| EBIT margin % | 17.1% | 15.1% | 12.3% | 8.9% | 10.1% | 7.6% |
| PAT margin % | 11% | 8.9% | 7.5% | 4.2% | 6% | 4.2% |
| Working capital | ||||||
| Receivable days | 52 | 83 | 95 | 89 | 66 | 73 |
| Inventory days | 228 | 307 | 227 | 259 | 300 | 205 |
| Payable days | 111 | 150 | 97 | 92 | 88 | 85 |
| NWC days | 168 | 240 | 225 | 256 | 278 | 193 |
| Leverage | ||||||
| Current ratio | 1.37 | 1.44 | 1.43 | 1.27 | 1.14 | 1.19 |
| Debt to EBITDA | 1.02 | 1.88 | 1.8 | 3.48 | 2.62 | 2.24 |
| Debt to equity | 0.69 | 0.82 | 0.76 | 0.93 | 0.76 | 0.59 |
| Interest coverage | 8.9 | 8.2 | 5.3 | 3.1 | 3.1 | 3.3 |
| Asset turnover | 1.28 | 0.86 | 1.05 | 0.81 | 0.79 | 0.98 |
| Return ratios | ||||||
| Return on assets % | 14.2% | 7.7% | 7.8% | 3.4% | 4.8% | 4.1% |
| Return on capital employed % | 44.7% | 34.2% | 26.6% | 15.6% | 15.5% | 14.9% |
| Return on equity % | 39.6% | 23% | 21.4% | 9.8% | 13.4% | 10.6% |
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.