Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 32.9% | 36.9% | 37.6% | 42.7% | 45.5% | 45.9% |
| EBITDA margin % | 4.5% | 7.1% | 8.3% | 10% | 9.9% | 10.6% |
| EBIT margin % | 2.5% | 4.3% | 5.4% | 6.5% | 6.8% | 6.8% |
| PAT margin % | 2% | 1.9% | 2.7% | 4.3% | 3.8% | 3.9% |
| Working capital | ||||||
| Receivable days | 69 | 66 | 64 | 68 | 74 | 59 |
| Inventory days | 113 | 93 | 88 | 101 | 132 | 114 |
| Payable days | 118 | 98 | 100 | 101 | 94 | 96 |
| NWC days | 65 | 62 | 52 | 68 | 112 | 77 |
| Leverage | ||||||
| Current ratio | 1.14 | 1.1 | 1.15 | 1.61 | 1.48 | 1.31 |
| Debt to EBITDA | 6.36 | 3.57 | 2.97 | 1.94 | 2.18 | 1.99 |
| Debt to equity | 2.17 | 2.09 | 1.82 | 0.54 | 0.65 | 0.66 |
| Interest coverage | 2.3 | 2 | 2.9 | 3.4 | 4.5 | 4.4 |
| Asset turnover | 1.37 | 1.64 | 1.64 | 1.31 | 1.21 | 1.3 |
| Return ratios | ||||||
| Return on assets % | 2.7% | 3.1% | 4.4% | 5.6% | 4.6% | 5% |
| Return on capital employed % | 10.6% | 17.1% | 23.2% | 21.3% | 17.9% | 18.7% |
| Return on equity % | 15.1% | 15.5% | 19.8% | 12% | 11.4% | 12.1% |
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.