Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 50.5% | 65.3% | 57.6% | 74% | 73.6% |
| EBITDA margin % | |||||
| 15.2% |
| 19% |
| 22.2% |
| 25.9% |
| 24.7% |
| EBIT margin % | 10.2% | 11.7% | 16.3% | 17.9% | 16.8% |
| PAT margin % | 1.4% | 5.3% | 4.4% | 5.8% | 7.5% |
| Working capital | |||||
| Receivable days | — | 187 | 156 | 198 | 175 |
| Inventory days | — | 23 | 52 | 82 | 95 |
| Payable days | — | 75 | 92 | 136 | 152 |
| NWC days | — | 135 | 117 | 144 | 117 |
| Leverage | |||||
| Current ratio | — | 2.16 | 1.54 | 1.37 | 1.54 |
| Debt to EBITDA | — | 6.1 | 4.75 | 3.61 | 2.97 |
| Debt to equity | — | 0.95 | 1.18 | 0.83 | 0.58 |
| Interest coverage | 1.5 | 1.2 | 1.8 | 1.7 | 2.2 |
| Asset turnover | — | 0.34 | 0.41 | 0.39 | 0.39 |
| Return ratios | |||||
| Return on assets % | — | 1.8% | 1.8% | 2.3% | 2.9% |
| Return on capital employed % | — | 5.5% | 10.5% | 9.4% | 9.8% |
| Return on equity % | — | 4.3% | 4.9% | 5.2% | 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.