Consolidated figures
| Ratio | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Margins | |||
| Gross margin % | — | — | — |
| EBITDA margin % | 88.9% | 86.7% | 86.6% |
| EBIT margin % | 56.1% | 52.4% | 48% |
| PAT margin % | 17.5% | 21.5% | 18.2% |
| Working capital | |||
| Receivable days | 131 | 85 | 78 |
| Inventory days | 41 | 39 | 34 |
| Payable days | — | 111 | 145 |
| NWC days | — | 14 | -32 |
| Leverage | |||
| Current ratio | 0.27 | 0.92 | 0.24 |
| Debt to EBITDA | 7.34 | 9.38 | 11.82 |
| Debt to equity | 2.05 | 0.97 | 1.54 |
| Interest coverage | 1.7 | 1.9 | 1.7 |
| Asset turnover | 0.07 | 0.05 | 0.05 |
| Return ratios | |||
| Return on assets % | 1.3% | 1% | 0.9% |
| Return on capital employed % | 5.2% | 4.5% | 3.3% |
| Return on equity % | 5.5% | 2.6% | 2.7% |
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.