Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | 89.9% | 93.4% |
| EBITDA margin % | 50% | 57.8% | 64.6% | 70.4% | 57.2% | 74% |
| EBIT margin % | 38.1% | 43.9% | 46.2% | 50% | 33% | 45.9% |
| PAT margin % | 18.5% | 26.7% | 32.2% | 38% | 21.1% | 28.4% |
| Working capital | ||||||
| Receivable days | — | — | — | — | 120 | 102 |
| Inventory days | — | — | — | — | 150 | 189 |
| Payable days | — | — | — | — | 478 | 970 |
| NWC days | — | — | — | — | -208 | -678 |
| Leverage | ||||||
| Current ratio | 0.88 | 1.14 | 0.99 | 1.11 | 1.44 | 1.73 |
| Debt to EBITDA | 0.61 | 0.63 | 1.03 | 0.73 | 1.11 | 0.83 |
| Debt to equity | 0.28 | 0.3 | 0.41 | 0.29 | 0.31 | 0.28 |
| Interest coverage | 5.1 | 5.1 | 4.7 | 4.7 | 4.4 | 4.4 |
| Asset turnover | 0.42 | 0.43 | 0.3 | 0.33 | 0.28 | 0.24 |
| Return ratios | ||||||
| Return on assets % | 7.8% | 11.5% | 9.7% | 12.7% | 5.9% | 6.7% |
| Return on capital employed % | 23.5% | 27% | 22.3% | 22.8% | 14.8% | 15.6% |
| Return on equity % | 17% | 22% | 19.8% | 21.2% | 10.1% | 12.9% |
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.