Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 20.9% | 19.5% | 18.3% | 19.7% | 20.1% | 17.6% |
| EBITDA margin % | 7.1% | 6.8% | 8.2% | 9.5% | 9.9% | 7.3% |
| EBIT margin % | 4.5% | 4.8% | 6.5% | 7.8% | 8.6% | 5.7% |
| PAT margin % | 1.7% | 3.4% | 3.6% | 4.9% | 5.9% | 3.7% |
| Working capital | ||||||
| Receivable days | 76 | 71 | 74 | 73 | 73 | 82 |
| Inventory days | 61 | 118 | 73 | 90 | 123 | 134 |
| Payable days | 101 | 111 | 81 | 107 | 129 | 147 |
| NWC days | 37 | 78 | 66 | 56 | 68 | 69 |
| Leverage | ||||||
| Current ratio | 0.99 | 1.11 | 1.12 | 1.46 | 1.9 | 1.47 |
| Debt to EBITDA | 3.68 | 5.15 | 3.08 | 1.38 | 0.62 | 1.54 |
| Debt to equity | 0.95 | 1.23 | 1.37 | 0.35 | 0.11 | 0.2 |
| Interest coverage | 1.9 | 3.1 | 3 | 4.4 | 5.1 | 3.5 |
| Asset turnover | 1.21 | 1.03 | 1.43 | 1.19 | 0.95 | 0.89 |
| Return ratios | ||||||
| Return on assets % | 2% | 3.5% | 5.1% | 5.8% | 5.6% | 3.3% |
| Return on capital employed % | 11.7% | 17.4% | 24% | 22.4% | 20.2% | 10.9% |
| Return on equity % | 6% | 12% | 19.6% | 13% | 10.2% | 6.4% |
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.