Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 10% | 9.7% | 9.3% | 9.1% | 9.1% | 10.1% |
| EBITDA margin % | 4% | 4.8% | 4.1% | 4% | 4.3% | 5.1% |
| EBIT margin % | 2.9% | 4% | 3.4% | 3.3% | 3.6% | 4.4% |
| PAT margin % | 1% | 2.4% | 1.8% | 1.8% | 1.9% | 2.1% |
| Working capital | ||||||
| Receivable days | 68 | 50 | 47 | 39 | 39 | 45 |
| Inventory days | 35 | 22 | 28 | 26 | 26 | 38 |
| Payable days | 12 | 23 | 29 | 33 | 46 | 50 |
| NWC days | 91 | 49 | 46 | 33 | 18 | 33 |
| Leverage | ||||||
| Current ratio | 1.38 | 1.62 | 1.5 | 1.6 | 1.19 | 1.15 |
| Debt to EBITDA | 5.9 | 2.46 | 2.45 | 1.91 | 1.9 | 2.48 |
| Debt to equity | 1.8 | 0.99 | 0.85 | 0.55 | 0.61 | 1.13 |
| Interest coverage | 1.8 | 3.6 | 2.9 | 2.9 | 2.8 | 2.9 |
| Asset turnover | 2.36 | 3.2 | 3.2 | 3.13 | 2.83 | 2.6 |
| Return ratios | ||||||
| Return on assets % | 2.4% | 7.6% | 5.7% | 5.7% | 5.4% | 5.4% |
| Return on capital employed % | 14.1% | 26.5% | 22.6% | 22.9% | 24.2% | 30.4% |
| Return on equity % | 7.9% | 20% | 15.1% | 13.3% | 14.5% | 18.7% |
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.