Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 75.9% | 78% | 77.7% | 72% |
| EBITDA margin % | 28.5% | 28.9% | 24.1% | 17.4% |
| EBIT margin % | 23.8% | 23.7% | 18.4% | 10.8% |
| PAT margin % | 15.2% | 15.3% | 11.3% | 4.3% |
| Working capital | ||||
| Receivable days | 76 | 102 | 138 | 145 |
| Inventory days | 490 | 539 | 572 | 440 |
| Payable days | 225 | 228 | 244 | 209 |
| NWC days | 341 | 414 | 466 | 375 |
| Leverage | ||||
| Current ratio | 1.57 | 1.3 | 1.42 | 1.43 |
| Debt to EBITDA | 1.22 | 1.7 | 1.99 | 2.84 |
| Debt to equity | 0.36 | 0.54 | 0.51 | 0.5 |
| Interest coverage | 6.4 | 5.8 | 4 | 2.2 |
| Asset turnover | 0.63 | 0.59 | 0.57 | 0.54 |
| Return ratios | ||||
| Return on assets % | 9.5% | 9.1% | 6.5% | 2.3% |
| Return on capital employed % | 22.1% | 24.3% | 17.6% | 9.7% |
| Return on equity % | 15.8% | 17% | 12% | 4.4% |
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.