Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 37% | 36.3% | 42.5% | 47.2% | 57% |
| EBITDA margin % | |||||
| 14.3% |
| 15.1% |
| 18.2% |
| 22.4% |
| 28.3% |
| EBIT margin % | 9.6% | 9.7% | 12.6% | 17% | 23.3% |
| PAT margin % | 6.2% | 5.8% | 8.9% | 11.8% | 17.2% |
| Working capital | |||||
| Receivable days | 65 | 55 | 67 | 80 | 79 |
| Inventory days | 114 | 69 | 82 | 121 | 129 |
| Payable days | 87 | 51 | 68 | 87 | 74 |
| NWC days | 92 | 73 | 81 | 114 | 135 |
| Leverage | |||||
| Current ratio | 1.58 | 1.15 | 1.18 | 1.22 | 1.25 |
| Debt to EBITDA | 2.14 | 2.02 | 1.78 | 1.07 | 0.62 |
| Debt to equity | 0.47 | 0.46 | 0.45 | 0.34 | 0.24 |
| Interest coverage | 3.7 | 3.5 | 4.9 | 8 | 15 |
| Asset turnover | 0.84 | 0.88 | 0.82 | 0.84 | 0.86 |
| Return ratios | |||||
| Return on assets % | 5.2% | 5.1% | 7.3% | 10% | 14.8% |
| Return on capital employed % | 13% | 13% | 16.9% | 23.3% | 34% |
| Return on equity % | 9.6% | 8.8% | 12.5% | 17% | 23.7% |
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.