Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 25.3% | 32.6% | 34.5% | 35.4% |
| EBITDA margin % | 12.3% | 14.3% | 15% | 14.9% |
| EBIT margin % | 11.1% | 12.8% | 13% | 12.1% |
| PAT margin % | 7.3% | 8.7% | 10.3% | 8.8% |
| Working capital | ||||
| Receivable days | 104 | 97 | 97 | 98 |
| Inventory days | 62 | 72 | 93 | 98 |
| Payable days | 84 | 90 | 90 | 104 |
| NWC days | 83 | 80 | 100 | 92 |
| Leverage | ||||
| Current ratio | 1.59 | 2.18 | 1.97 | 1.87 |
| Debt to EBITDA | 2.07 | 1.59 | 1.82 | 1.41 |
| Debt to equity | 0.85 | 0.29 | 0.35 | 0.32 |
| Interest coverage | 5.6 | 7 | 72.3 | 12.1 |
| Asset turnover | 1.32 | 0.82 | 0.79 | 0.89 |
| Return ratios | ||||
| Return on assets % | 9.6% | 7.1% | 8.1% | 7.8% |
| Return on capital employed % | 26.2% | 20.4% | 15.2% | 16% |
| Return on equity % | 24.6% | 11.4% | 13.4% | 13.2% |
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.