Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 15% | 10.3% | 9.3% | 14% | 11.9% | 10.8% |
| EBITDA margin % | 2.6% | 2.9% | 1.3% | 2% | 2.9% | 3.5% |
| EBIT margin % | 0.7% | 1.8% | 0.1% | 0.3% | 1.9% | 2.7% |
| PAT margin % | 1.9% | 2% | 1.1% | 0.5% | 1.1% | 1.8% |
| Working capital | ||||||
| Receivable days | 91 | 54 | 42 | 53 | 56 | 83 |
| Inventory days | 6 | 3 | 2 | 4 | 3 | 4 |
| Payable days | 4 | 4 | 1 | 3 | 2 | 9 |
| NWC days | 93 | 54 | 43 | 54 | 57 | 78 |
| Leverage | ||||||
| Current ratio | 2.67 | 2.03 | 3.2 | 4.01 | 2.49 | 1.73 |
| Debt to EBITDA | 4.34 | 2.87 | 3.33 | 2.61 | 2.21 | 3.43 |
| Debt to equity | 0.41 | 0.56 | 0.29 | 0.22 | 0.43 | 0.77 |
| Interest coverage | 6.8 | 8 | 3.6 | 3.3 | 4 | 5.9 |
| Asset turnover | 2.38 | 3.89 | 4.88 | 3.43 | 4.5 | 3.26 |
| Return ratios | ||||||
| Return on assets % | 4.5% | 7.9% | 5.3% | 1.8% | 5% | 5.7% |
| Return on capital employed % | 11% | 20% | 12.5% | 4.7% | 13% | 18.4% |
| Return on equity % | 6.8% | 13.6% | 7.5% | 2.3% | 7.3% | 11.1% |
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.