Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 53.1% | 42.7% | 48.6% | 46.5% | 44% | 42.6% |
| EBITDA margin % | 24.4% | 17% | 18.1% | 16.7% | 17% | 16% |
| EBIT margin % | 21.6% | 14.6% | 15.1% | 12.8% | 13.5% | 12.5% |
| PAT margin % | 18.1% | 11.9% | 12.4% | 10.3% | 10.8% | 10.4% |
| Working capital | ||||||
| Receivable days | 52 | 29 | 29 | 38 | 42 | 38 |
| Inventory days | 93 | 93 | 113 | 109 | 83 | 88 |
| Payable days | 91 | 52 | — | — | — | — |
| NWC days | 54 | 71 | — | — | — | — |
| Leverage | ||||||
| Current ratio | 4.04 | 3.28 | 3.37 | 2.93 | 2.93 | 2.05 |
| Debt to EBITDA | 0.48 | 0.55 | 0.65 | 0.75 | 0.73 | 0.64 |
| Debt to equity | 0.08 | 0.05 | 0.09 | 0.08 | 0.09 | 0.09 |
| Interest coverage | 70.4 | 27.2 | 21.2 | 12.4 | 15.8 | 17.7 |
| Asset turnover | 0.55 | 0.49 | 0.63 | 0.52 | 0.59 | 0.71 |
| Return ratios | ||||||
| Return on assets % | 10% | 5.9% | 7.9% | 5.4% | 6.4% | 7.4% |
| Return on capital employed % | 15% | 11.2% | 11% | 9.2% | 10.3% | 10.7% |
| Return on equity % | 12.1% | 6.8% | 9.4% | 6.4% | 7.7% | 9.3% |
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.