Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 31.3% | 29% | 32.5% | 35% | 35% |
| EBITDA margin % | 7.8% | 6.2% | 6.9% | 7.5% | 6.9% |
| EBIT margin % | 4.7% | 3.4% | 4% | 4.5% | 4.3% |
| PAT margin % | 2.5% | 2.1% | 2.8% | 2.6% | 2.3% |
| Working capital | |||||
| Receivable days | 103 | 82 | 76 | 94 | 64 |
| Inventory days | 224 | 158 | 148 | 139 | 110 |
| Payable days | 131 | 86 | 85 | 89 | 91 |
| NWC days | 196 | 154 | 139 | 144 | 82 |
| Leverage | |||||
| Current ratio | 1.1 | 1.1 | 1.14 | 1.14 | 1.04 |
| Debt to EBITDA | 5.46 | 5.64 | 4.33 | 4.57 | 3.54 |
| Debt to equity | 1 | 0.9 | 0.74 | 0.81 | 0.67 |
| Interest coverage | 2.5 | 3.5 | 3.2 | 3 | 3.4 |
| Asset turnover | 0.8 | 0.95 | 1.01 | 0.93 | 1.08 |
| Return ratios | |||||
| Return on assets % | 2% | 2% | 2.8% | 2.4% | 2.5% |
| Return on capital employed % | 10.9% | 10.4% | 11.1% | 11.4% | 12.1% |
| Return on equity % | 5.8% | 5.3% | 6.9% | 6% | 6.4% |
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.