Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 19.7% | 23.6% | 22.3% | 22.4% | 22.8% |
| EBITDA margin % | 4.6% | 5.6% | 4.4% | 5.5% | 6.1% |
| EBIT margin % | 4% | 5.1% | 4.1% | 5.2% | 5.7% |
| PAT margin % | 2.6% | 3.4% | 2.8% | 3.7% | 4% |
| Working capital | |||||
| Receivable days | 57 | 32 | 36 | 25 | 36 |
| Inventory days | 70 | 79 | 46 | 57 | 57 |
| Payable days | 4 | 2 | 2 | 1 | — |
| NWC days | 123 | 109 | 80 | 82 | — |
| Leverage | |||||
| Current ratio | 2.94 | 4.06 | 10.59 | 21.53 | 9.95 |
| Debt to EBITDA | 2.06 | 1.22 | 0.42 | 0.25 | 0.39 |
| Debt to equity | 0.33 | 0.27 | 0.08 | 0.05 | 0.08 |
| Interest coverage | 7.8 | 9 | 11.8 | 36.4 | 23.8 |
| Asset turnover | 2.46 | 2.95 | 3.55 | 3.32 | 3.05 |
| Return ratios | |||||
| Return on assets % | 6.3% | 10% | 9.9% | 12.4% | 12% |
| Return on capital employed % | 13.7% | 20.8% | 16.5% | 19.1% | 20.1% |
| Return on equity % | 8.9% | 13.4% | 11.3% | 13.6% | 13.7% |
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.