Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 38.8% | 35.6% | 46.4% | 50.9% | 47.9% |
| EBITDA margin % | |||||
| 11.1% |
| 11.5% |
| 15.3% |
| 16% |
| 14.7% |
| EBIT margin % | 7% | 8.2% | 10.5% | 10.5% | 10.6% |
| PAT margin % | 5.3% | 4.3% | 4.9% | 6.7% | 4.8% |
| Working capital | |||||
| Receivable days | 96 | 98 | 40 | 45 | 24 |
| Inventory days | 147 | 119 | 240 | 303 | 234 |
| Payable days | 58 | 49 | 41 | 45 | 44 |
| NWC days | 185 | 168 | 239 | 303 | 214 |
| Leverage | |||||
| Current ratio | 1.48 | 1.69 | 1.46 | 1.46 | 1.32 |
| Debt to EBITDA | 2.82 | 2.28 | 2.85 | 2.96 | 2.73 |
| Debt to equity | 0.61 | 0.59 | 0.71 | 0.71 | 0.77 |
| Interest coverage | 3 | 3.3 | 2.5 | 2.9 | 2.4 |
| Asset turnover | 0.93 | 1.03 | 0.78 | 0.71 | 0.84 |
| Return ratios | |||||
| Return on assets % | 5% | 4.5% | 3.8% | 4.8% | 4% |
| Return on capital employed % | 14.5% | 14.9% | 14.1% | 14.5% | 14.5% |
| Return on equity % | 10.4% | 9.7% | 8% | 10.1% | 9.2% |
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.