Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | — | — | 45.1% | 43.2% | 43.4% |
| EBITDA margin % | |||||
| 22.6% |
| 17.9% |
| 14% |
| 11.5% |
| 12.2% |
| EBIT margin % | 18.9% | 15.5% | 10.1% | 7.6% | 8.3% |
| PAT margin % | 14.8% | 11.2% | 4.8% | 4.5% | 7.4% |
| Working capital | |||||
| Receivable days | — | — | 53 | 58 | 58 |
| Inventory days | — | — | 111 | 110 | 101 |
| Payable days | — | — | 93 | 105 | 111 |
| NWC days | — | — | 72 | 64 | 48 |
| Leverage | |||||
| Current ratio | 1.01 | 0.94 | 1.1 | 1.06 | 1.11 |
| Debt to EBITDA | 0.63 | 1.75 | 1.41 | 1.69 | 1.23 |
| Debt to equity | 0.29 | 0.85 | 0.38 | 0.37 | 0.27 |
| Interest coverage | 15.4 | 20.5 | 5.3 | 3.8 | 5.1 |
| Asset turnover | 1.05 | 1.02 | 1.04 | 1.03 | 1.05 |
| Return ratios | |||||
| Return on assets % | 15.6% | 11.5% | 5% | 4.6% | 7.7% |
| Return on capital employed % | 31.8% | 36.8% | 21.6% | 13.6% | 15% |
| Return on equity % | 30.2% | 30.4% | 9.2% | 8.6% | 13.1% |
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.