Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 54.3% | 52.6% | 46.4% | 45.7% | 45.2% | 47.5% |
| EBITDA margin % | 16.9% | 14.1% | 8.4% | 5.8% | 6.4% | 8.3% |
| EBIT margin % | 13.4% | 11.5% | 5.4% | 1.9% | 2.2% | 4.4% |
| PAT margin % | 9.7% | 8.4% | 3.2% | 0.1% | -0.2% | 5.1% |
| Working capital | ||||||
| Receivable days | 33 | 34 | 30 | 33 | 45 | 35 |
| Inventory days | 174 | 160 | 157 | 188 | 158 | 146 |
| Payable days | 65 | 47 | 38 | 40 | 36 | 37 |
| NWC days | 142 | 147 | 149 | 181 | 166 | 144 |
| Leverage | ||||||
| Current ratio | 2.16 | 1.75 | 1.51 | 1.33 | 1.33 | 1.59 |
| Debt to EBITDA | 0.5 | 0.66 | 2.79 | 6.12 | 4.84 | 2.17 |
| Debt to equity | 0.15 | 0.18 | 0.5 | 0.71 | 0.64 | 0.37 |
| Interest coverage | 12.7 | 14.9 | 4.4 | 1.1 | 1 | 2.4 |
| Asset turnover | 1.21 | 1.28 | 1.21 | 1.02 | 1.08 | 1.24 |
| Return ratios | ||||||
| Return on assets % | 11.7% | 10.7% | 3.9% | 0.1% | -0.2% | 6.3% |
| Return on capital employed % | 22.6% | 22.8% | 11.4% | 4.1% | 4.5% | 8.5% |
| Return on equity % | 17.6% | 16.2% | 6.9% | 0.1% | -0.4% | 10.3% |
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.