Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 41% | 38.6% | 38.4% | 41.6% | 43.1% | 42.5% |
| EBITDA margin % | 13.1% | 12.6% | 14.1% | 14.7% | 16.6% | 16.2% |
| EBIT margin % | 7.3% | 7.4% | 9.7% | 10% | 12.3% | 11.6% |
| PAT margin % | 3.8% | 4.4% | 7.7% | 6.7% | 8.1% | 5.4% |
| Working capital | ||||||
| Receivable days | 73 | 78 | 75 | 83 | 95 | 93 |
| Inventory days | 101 | 102 | 99 | 85 | 78 | 85 |
| Payable days | — | 93 | 67 | 75 | 78 | 80 |
| NWC days | — | 88 | 107 | 94 | 95 | 98 |
| Leverage | ||||||
| Current ratio | 1.03 | 1.01 | 1.12 | 1.2 | 1.23 | 1.26 |
| Debt to EBITDA | 2.61 | 3.33 | 2.4 | 2.2 | 2.01 | 1.97 |
| Debt to equity | 1.01 | 1.32 | 1.11 | 0.93 | 0.91 | 0.8 |
| Interest coverage | 2.3 | 3 | 3.8 | 3.4 | 4 | 3 |
| Asset turnover | 1.06 | 0.99 | 1.18 | 1.14 | 1.1 | 1.05 |
| Return ratios | ||||||
| Return on assets % | 4% | 4.4% | 9.1% | 7.6% | 8.9% | 5.7% |
| Return on capital employed % | 17.3% | 18.4% | 27.5% | 24.9% | 25.4% | 22.4% |
| Return on equity % | 11.1% | 13.8% | 25% | 19.3% | 22.2% | 13.6% |
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.