Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | — | — | — | 32.8% |
| EBITDA margin % | 6.2% | 7.6% | 7.6% | 11.2% |
| EBIT margin % | 4.6% | 6.4% | 6.5% | 10% |
| PAT margin % | 2.4% | 3.7% | 3.9% | 7.4% |
| Working capital | ||||
| Receivable days | 64 | 49 | 80 | 69 |
| Inventory days | 115 | 78 | 145 | 151 |
| Payable days | — | — | — | 92 |
| NWC days | — | — | — | 128 |
| Leverage | ||||
| Current ratio | 1.4 | 1.65 | 1.38 | 1.92 |
| Debt to EBITDA | 2.35 | 2.24 | 2.77 | 0.56 |
| Debt to equity | 0.69 | 0.82 | 0.61 | 0.12 |
| Interest coverage | 2.2 | 3.4 | 3.5 | 8.2 |
| Asset turnover | 1.26 | 1.58 | 1.04 | 1.09 |
| Return ratios | ||||
| Return on assets % | 3.1% | 5.9% | 4% | 8% |
| Return on capital employed % | 19.5% | 26.3% | 20.4% | 27.3% |
| Return on equity % | 11.6% | 18.3% | 11.2% | 14.1% |
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.