Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 72.2% | 72.6% | 74.7% | 71.4% |
| EBITDA margin % | — | 3.2% | ||
Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 72.2% | 72.6% | 74.7% | 71.4% |
| EBITDA margin % | — | 3.2% | ||
| 5.4% |
| 7.7% |
| EBIT margin % | — | 2.5% | 4.6% | 6.7% |
| PAT margin % | 0.1% | 0.1% | 2.5% | 3.6% |
| Working capital | ||||
| Receivable days | 49 | 59 | 79 | 86 |
| Inventory days | 103 | 73 | 101 | 121 |
| Payable days | 75 | 122 | 107 | 131 |
| NWC days | 78 | 10 | 73 | 76 |
| Leverage | ||||
| Current ratio | 0.95 | 0.95 | 1.41 | 1.33 |
| Debt to EBITDA | — | 3.37 | 2.07 | 1.96 |
| Debt to equity | 1.82 | 1.91 | 0.57 | 0.65 |
| Interest coverage | -0.3 | 1.1 | 3.2 | 4.1 |
| Asset turnover | 2.85 | 2.89 | 2.28 | 1.8 |
| Return ratios | ||||
| Return on assets % | 0.2% | 0.3% | 5.6% | 6.4% |
| Return on capital employed % | -7.2% | 31.5% | 33.7% | 28.7% |
| Return on equity % | 1.2% | 1.6% | 12.7% | 15.4% |
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.