Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 28.7% | 30.1% | 26.1% | 29.6% |
| EBITDA margin % | 5.8% | 6.7% | 6.4% | 6.8% |
| EBIT margin % | 4.2% | 4.2% | 4.4% | 4.5% |
| PAT margin % | 1.8% | 0.7% | 2% | 1.8% |
| Working capital | ||||
| Receivable days | 33 | 41 | 37 | 30 |
| Inventory days | 19 | 83 | 54 | 50 |
| Payable days | 30 | 13 | 24 | 28 |
| NWC days | 22 | 111 | 68 | 53 |
| Leverage | ||||
| Current ratio | 1.11 | 1.29 | 0.95 | 0.86 |
| Debt to EBITDA | 4.28 | 7.45 | 5.5 | 4.45 |
| Debt to equity | 1.95 | 2.86 | 2.23 | 1.64 |
| Interest coverage | 1.9 | 1.3 | 2 | 1.9 |
| Asset turnover | 2.15 | 1.35 | 1.68 | 1.73 |
| Return ratios | ||||
| Return on assets % | 3.9% | 1% | 3.3% | 3.1% |
| Return on capital employed % | 14% | 9.9% | 14.2% | 14.1% |
| Return on equity % | 14.3% | 4.1% | 12.4% | 9.6% |
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.