Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 23.4% | 22% | 24.8% | 22.6% |
| EBITDA margin % | 16.8% | 15.7% | 18.9% | 18.4% |
| EBIT margin % | 16.4% | 15.2% | 17.9% | 17.4% |
| PAT margin % | 9.4% | 8.4% | 10.4% | 10% |
| Working capital | ||||
| Receivable days | 94 | 108 | 117 | 110 |
| Inventory days | 168 | 142 | 158 | 131 |
| Payable days | 5 | 2 | 6 | 8 |
| NWC days | 257 | 248 | 270 | 233 |
| Leverage | ||||
| Current ratio | 1.74 | 1.99 | 1.44 | 1.9 |
| Debt to EBITDA | 2.87 | 2.62 | 2.57 | 2.65 |
| Debt to equity | 0.82 | 0.65 | 0.85 | 0.9 |
| Interest coverage | 4 | 3.9 | 4.3 | 4.1 |
| Asset turnover | 0.85 | 0.89 | 0.88 | 0.9 |
| Return ratios | ||||
| Return on assets % | 8% | 7.4% | 9.1% | 8.9% |
| Return on capital employed % | 21.7% | 23.4% | 29.4% | 28.4% |
| Return on equity % | 15.9% | 13.1% | 18.2% | 18.4% |
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.