Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 13.9% | 15% | 13% | 11.5% | 13.4% | 13% |
| EBITDA margin % | 5.5% | 6.3% | 7.1% | 4.8% | 6.1% | 6.6% |
| EBIT margin % | 4.5% | 5.3% | 6.4% | 3.9% | 4.6% | 4.9% |
| PAT margin % | 2.5% | 3% | 3.3% | 2.3% | 1.1% | 1.8% |
| Working capital | ||||||
| Receivable days | 35 | 34 | 32 | 36 | 42 | 34 |
| Inventory days | 127 | 56 | 32 | 25 | 45 | 43 |
| Payable days | 6 | 4 | 4 | 4 | 5 | 7 |
| NWC days | 156 | 87 | 60 | 58 | 82 | 70 |
| Leverage | ||||||
| Current ratio | 1.23 | 1.36 | 1.49 | 2.22 | 1.14 | 1.15 |
| Debt to EBITDA | 5.65 | 2.97 | 2.67 | 4.3 | 5.97 | 3.73 |
| Debt to equity | 1.67 | 0.96 | 1.25 | 0.62 | 1.41 | 1.28 |
| Interest coverage | 3.4 | 3.4 | 3.2 | 2.8 | 1.5 | 1.9 |
| Asset turnover | 1.8 | 2.47 | 2.75 | 1.77 | 1.53 | 1.99 |
| Return ratios | ||||||
| Return on assets % | 4.6% | 7.3% | 9.1% | 4.1% | 1.6% | 3.5% |
| Return on capital employed % | 22.3% | 25.9% | 34.2% | 12.2% | 11.5% | 16.4% |
| Return on equity % | 13.6% | 15.2% | 21.9% | 6.9% | 4% | 9% |
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.