Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 38.4% | 54.7% | 48.8% | 48.4% | 47.9% | 48.5% |
| EBITDA margin % | 17.1% | 20.4% | 17% | 12.4% | 8.5% | 9.9% |
| EBIT margin % | 14.8% | 15.4% | 12.4% | 8.4% | 4.2% | 6.3% |
| PAT margin % | 10.8% | 12.9% | 10.5% | 5.3% | 4% | 5% |
| Working capital | ||||||
| Receivable days | 170 | 200 | 169 | 112 | 155 | 151 |
| Inventory days | 27 | 188 | 228 | 234 | 268 | 251 |
| Payable days | 169 | 302 | 241 | 179 | 184 | 143 |
| NWC days | 28 | 86 | 156 | 168 | 239 | 259 |
| Leverage | ||||||
| Current ratio | 1.8 | 1.69 | 1.98 | 1.75 | 2.11 | 2.54 |
| Debt to EBITDA | 0.9 | 1.03 | 1.01 | 1.39 | 2.4 | 2.44 |
| Debt to equity | 0.13 | 0.17 | 0.13 | 0.15 | 0.16 | 0.17 |
| Interest coverage | 16.5 | 13.9 | 6.8 | 4 | 4.1 | 4.4 |
| Asset turnover | 0.58 | 0.51 | 0.51 | 0.61 | 0.55 | 0.53 |
| Return ratios | ||||||
| Return on assets % | 6.3% | 6.6% | 5.3% | 3.2% | 2.2% | 2.6% |
| Return on capital employed % | 12.4% | 13.3% | 11.4% | 8.8% | 6.2% | 6.2% |
| Return on equity % | 9.1% | 10.2% | 7.6% | 4.7% | 3.1% | 3.6% |
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.