Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 35.3% | 28.9% | 28.9% | 32.9% | 40.4% | 39.4% |
| EBITDA margin % | 15.1% | 13.9% | 13.8% | 14.8% | 15.9% | 16.5% |
| EBIT margin % | 9.2% | 9.8% | 9.7% | 10.3% | 11.2% | 11% |
| PAT margin % | 5.6% | 5.4% | 5.4% | 7.5% | 7.2% | 6.2% |
| Working capital | ||||||
| Receivable days | 121 | 78 | 60 | 64 | 55 | 39 |
| Inventory days | 171 | 147 | 112 | 122 | 118 | 124 |
| Payable days | 115 | 119 | 117 | 103 | 119 | 77 |
| NWC days | 178 | 106 | 55 | 83 | 54 | 87 |
| Leverage | ||||||
| Current ratio | 1.12 | 1.19 | 1.2 | 1.25 | 1.22 | 1.4 |
| Debt to EBITDA | 3.25 | 2.45 | 1.92 | 3.02 | 2.13 | 2.21 |
| Debt to equity | 1.08 | 1.14 | 0.87 | 1.29 | 0.64 | 0.71 |
| Interest coverage | 2.3 | 2.8 | 2.8 | 3.4 | 3.4 | 3 |
| Asset turnover | 0.74 | 1 | 1.12 | 0.9 | 0.85 | 0.89 |
| Return ratios | ||||||
| Return on assets % | 4.1% | 5.4% | 6% | 6.8% | 6.1% | 5.5% |
| Return on capital employed % | 19% | 26.8% | 25.1% | 26.7% | 22.2% | 17.9% |
| Return on equity % | 12.2% | 18.3% | 17.6% | 21.7% | 13.6% | 11.9% |
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.