Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | — | — | — | — |
| EBITDA margin % | 50.7% | 52.2% | 50.5% | 48.6% |
| EBIT margin % | 38.5% | 40.6% | 38.3% | 37.1% |
| PAT margin % | 23.5% | 30.9% | 34% | 28.9% |
| Working capital | ||||
| Receivable days | 46 | 66 | 66 | 72 |
| Inventory days | 24 | 23 | 22 | 20 |
| Payable days | 70 | 72 | 58 | 50 |
| NWC days | -0 | 16 | 30 | 42 |
| Leverage | ||||
| Current ratio | 3.91 | 7.4 | 3.02 | 2.26 |
| Debt to EBITDA | 2.62 | 2.23 | 2.06 | 2.46 |
| Debt to equity | 1.06 | 0.55 | 0.48 | 0.59 |
| Interest coverage | 2.4 | 5.4 | 7.8 | 6.1 |
| Asset turnover | 0.34 | 0.27 | 0.26 | 0.26 |
| Return ratios | ||||
| Return on assets % | 7.9% | 8.4% | 9% | 7.6% |
| Return on capital employed % | 16.1% | 16.5% | 14.4% | 13.8% |
| Return on equity % | 18.8% | 14.5% | 15.7% | 14.2% |
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.