Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 38.2% | 38.6% | 38% | 41.4% |
| EBITDA margin % | 13.2% | 12.1% | 12.5% | 13.4% |
| EBIT margin % | 7.6% | 6.4% | 7.3% | 8.2% |
| PAT margin % | 4.2% | 3.2% | 2.4% | 5.2% |
| Working capital | ||||
| Receivable days | 59 | 54 | 71 | 63 |
| Inventory days | 155 | 155 | 121 | 161 |
| Payable days | 50 | 33 | 43 | 39 |
| NWC days | 164 | 177 | 150 | 185 |
| Leverage | ||||
| Current ratio | 1.29 | 1.29 | 1.25 | 1.32 |
| Debt to EBITDA | 2.23 | 2.22 | 2.51 | 2.39 |
| Debt to equity | 0.57 | 0.48 | 0.64 | 0.59 |
| Interest coverage | 3.1 | 2.4 | 3 | 3.1 |
| Asset turnover | 0.96 | 0.98 | 1.03 | 0.97 |
| Return ratios | ||||
| Return on assets % | 4.1% | 3.1% | 2.5% | 5% |
| Return on capital employed % | 12.8% | 11.7% | 15% | 15.8% |
| Return on equity % | 8.2% | 5.6% | 4.9% | 9.6% |
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.