Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 48.4% | 51.9% | 50.1% | 53.3% | 55.7% | 55.8% |
| EBITDA margin % | 12.9% | 12.3% | 13.1% | 11.3% | 11.5% | 8% |
| EBIT margin % | 7.8% | 7.5% | 8.7% | 6.9% | 6.2% | 2.7% |
| PAT margin % | 2.4% | 4.4% | 6.1% | 4.7% | 3.2% | 1.6% |
| Working capital | ||||||
| Receivable days | 86 | 98 | 87 | 100 | 103 | 106 |
| Inventory days | 125 | 171 | 99 | 173 | 188 | 207 |
| Payable days | 149 | 185 | 107 | 133 | 151 | 161 |
| NWC days | 62 | 85 | 79 | 140 | 140 | 152 |
| Leverage | ||||||
| Current ratio | 1.35 | 1.45 | 1.72 | 1.43 | 1.39 | 1.45 |
| Debt to EBITDA | 2.04 | 1.25 | 1.15 | 2.57 | 2.57 | 4.1 |
| Debt to equity | 0.5 | 0.29 | 0.3 | 0.45 | 0.44 | 0.42 |
| Interest coverage | 2.4 | 3.5 | 7.3 | 4.4 | 2.6 | 1.6 |
| Asset turnover | 0.95 | 0.98 | 1.17 | 0.82 | 0.8 | 0.69 |
| Return ratios | ||||||
| Return on assets % | 2.3% | 4.3% | 7.2% | 3.9% | 2.6% | 1.1% |
| Return on capital employed % | 14.4% | 15.5% | 19.2% | 11.8% | 9.9% | 6.5% |
| Return on equity % | 4.6% | 8.3% | 12.2% | 7.2% | 4.8% | 2% |
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.