Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 39.3% | 38.2% | 38.6% | 40% | 69.7% | 71.2% |
| EBITDA margin % | 8.4% | 5.7% | 7.1% | 8% | 9% | 8.2% |
| EBIT margin % | 6.5% | 3.8% | 5.5% | 6.3% | 7.4% | 4.1% |
| PAT margin % | 4.7% | 2.1% | 3.2% | 4.1% | 4.1% | 2.3% |
| Working capital | ||||||
| Receivable days | 144 | 143 | 161 | 172 | 161 | 148 |
| Inventory days | 128 | 151 | 108 | 138 | 277 | 309 |
| Payable days | 180 | 155 | 139 | 139 | 234 | 224 |
| NWC days | 92 | 138 | 130 | 171 | 204 | 232 |
| Leverage | ||||||
| Current ratio | 1.29 | 1.29 | 1.32 | 1.28 | 1.35 | 1.39 |
| Debt to EBITDA | 2.09 | 3.87 | 2.64 | 1.58 | 1.46 | 1.65 |
| Debt to equity | 0.47 | 0.57 | 0.52 | 0.31 | 0.31 | 0.34 |
| Interest coverage | 8.1 | 3.4 | 5 | 6.6 | 13.1 | 4.8 |
| Asset turnover | 0.84 | 0.81 | 0.9 | 0.79 | 0.8 | 0.84 |
| Return ratios | ||||||
| Return on assets % | 3.9% | 1.7% | 2.9% | 3.3% | 3.3% | 1.9% |
| Return on capital employed % | 13.9% | 7.5% | 11.7% | 12.8% | 14.7% | 11% |
| Return on equity % | 12.5% | 5.4% | 8.9% | 10.1% | 9.6% | 5.6% |
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.