Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 71.8% | 76.7% | 76.3% | 76.3% |
| EBITDA margin % | 35.8% | 36.4% | 34.3% | 33.5% |
| EBIT margin % | 26.5% | 23.5% | 23.1% | 24% |
| PAT margin % | 18.2% | 10.6% | 12.8% | 15.5% |
| Working capital | ||||
| Receivable days | 69 | 89 | 136 | 153 |
| Inventory days | 392 | 805 | 805 | 946 |
| Payable days | — | — | — | 338 |
| NWC days | — | — | — | 761 |
| Leverage | ||||
| Current ratio | 1.01 | 0.85 | 1.27 | 1.92 |
| Debt to EBITDA | 1.4 | 3.55 | 2.81 | 2.33 |
| Debt to equity | 1.48 | 2.9 | 1.62 | 0.59 |
| Interest coverage | 5.7 | 3.2 | 2.9 | 3.7 |
| Asset turnover | 0.96 | 0.46 | 0.55 | 0.41 |
| Return ratios | ||||
| Return on assets % | 17.4% | 4.9% | 7% | 6.3% |
| Return on capital employed % | 57.7% | 30.3% | 30.4% | 25.4% |
| Return on equity % | 53.9% | 23.8% | 21.5% | 11.7% |
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.