Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 30.2% | 29.3% | 28% | 26.8% | 26.9% |
| EBITDA margin % | |||||
| 10.1% |
| 8.1% |
| 7.6% |
| 7.1% |
| 7.5% |
| EBIT margin % | 8.2% | 6.9% | 6.7% | 6.2% | 6.5% |
| PAT margin % | 5.6% | 5.2% | 5.4% | 5.8% | 5.1% |
| Working capital | |||||
| Receivable days | 91 | 70 | 56 | 57 | 65 |
| Inventory days | 176 | 175 | 136 | 137 | 134 |
| Payable days | 86 | 82 | 73 | 58 | 62 |
| NWC days | 182 | 163 | 120 | 136 | 137 |
| Leverage | |||||
| Current ratio | 1.95 | 1.99 | 2.03 | 2.15 | 1.97 |
| Debt to EBITDA | 1.97 | 1.92 | 1.44 | 1.4 | 1.48 |
| Debt to equity | 0.36 | 0.32 | 0.25 | 0.22 | 0.25 |
| Interest coverage | 4.9 | 6.5 | 7.5 | 8 | 8.3 |
| Asset turnover | 0.99 | 1.13 | 1.31 | 1.34 | 1.34 |
| Return ratios | |||||
| Return on assets % | 5.5% | 5.8% | 7% | 7.8% | 6.8% |
| Return on capital employed % | 14.1% | 16.1% | 18.8% | 19.3% | 18.4% |
| Return on equity % | 10.1% | 10.7% | 12.4% | 12.8% | 11.6% |
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.