Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 25.5% | 23.9% | 23.9% | 22.4% | 24.9% | 28.2% |
| EBITDA margin % | 10.7% | 9.7% | 12.2% | 13.4% | 14.6% | 12.4% |
| EBIT margin % | 8.6% | 7.7% | 11% | 12.7% | 13.2% | 10.1% |
| PAT margin % | 5.4% | 4.2% | 5.8% | 9.1% | 9.6% | 5.7% |
| Working capital | ||||||
| Receivable days | 26 | 22 | 38 | 49 | 75 | 95 |
| Inventory days | 120 | 130 | 114 | 127 | 94 | 188 |
| Payable days | 70 | 58 | 46 | 71 | 50 | 69 |
| NWC days | 77 | 94 | 106 | 105 | 119 | 213 |
| Leverage | ||||||
| Current ratio | 1.51 | 1.59 | 1.39 | 1.56 | 2.2 | 2 |
| Debt to EBITDA | 1.29 | 1.22 | 1.14 | 0.69 | 0.84 | 2.59 |
| Debt to equity | 0.22 | 0.2 | 0.36 | 0.21 | 0.18 | 0.31 |
| Interest coverage | 4.1 | 5.2 | 8 | 11.8 | 9.4 | 4.9 |
| Asset turnover | 1 | 1.1 | 1.27 | 1.24 | 0.99 | 0.62 |
| Return ratios | ||||||
| Return on assets % | 5.4% | 4.6% | 7.4% | 11.3% | 9.5% | 3.5% |
| Return on capital employed % | 13% | 13.6% | 29.6% | 38.2% | 25.1% | 11% |
| Return on equity % | 8.4% | 7.3% | 15% | 20.5% | 13.8% | 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.