Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 98.4% | 97.1% | — | — | 98.1% |
| EBITDA margin % | |||||
| 8.9% |
| 8.4% |
| 8.4% |
| 6.6% |
| 7% |
| EBIT margin % | 8.2% | 7.9% | 7.9% | 6.1% | 6.4% |
| PAT margin % | 4.5% | 4.7% | 4.9% | 4.6% | -0.4% |
| Working capital | |||||
| Receivable days | 133 | 117 | 117 | — | — |
| Inventory days | 266 | 33 | 1 | — | 94 |
| Payable days | — | — | — | — | — |
| NWC days | — | — | — | — | — |
| Leverage | |||||
| Current ratio | 2.02 | 2.2 | 2.18 | — | 2.59 |
| Debt to EBITDA | 3.32 | 3.03 | 2.89 | — | — |
| Debt to equity | 0.88 | 0.76 | 0.68 | — | — |
| Interest coverage | 3.6 | 3.4 | 3.3 | 3.1 | 3.3 |
| Asset turnover | 1.38 | 1.51 | 1.53 | — | 1.32 |
| Return ratios | |||||
| Return on assets % | 6.2% | 7.2% | 7.4% | — | -0.6% |
| Return on capital employed % | 20.4% | 21.6% | 22.4% | — | 14.1% |
| Return on equity % | 13.4% | 14.1% | 13.8% | — | — |
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.