Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 15.2% | 21.3% | 28.9% | 28.6% |
| EBITDA margin % | 13.5% | 19.7% | ||
| 26.8% |
| 22% |
| EBIT margin % | 13.4% | 16.6% | 22.9% | 18.9% |
| PAT margin % | 15.8% | 18.1% | 20.7% | 25.5% |
| Working capital | ||||
| Receivable days | 25 | 72 | 208 | 175 |
| Inventory days | 1,003 | 852 | 1,013 | 1,089 |
| Payable days | 47 | 37 | 86 | 81 |
| NWC days | 982 | 887 | 1,135 | 1,184 |
| Leverage | ||||
| Current ratio | 1.58 | 1.51 | 1.86 | 4.27 |
| Debt to EBITDA | 12.67 | 6.97 | 5.95 | 3.96 |
| Debt to equity | 2.1 | 1.65 | 1.11 | 0.34 |
| Interest coverage | 479.5 | 165.8 | 10.1 | 12.6 |
| Asset turnover | 0.36 | 0.38 | 0.27 | 0.24 |
| Return ratios | ||||
| Return on assets % | 5.7% | 7% | 5.5% | 6.1% |
| Return on capital employed % | 17.6% | 20.7% | 19.4% | 14% |
| Return on equity % | 19.4% | 21.8% | 14.5% | 10% |
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.