Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 80% | 67.5% | 65% | 96.5% |
| EBITDA margin % | 4.2% | 10.7% | ||
| 4.6% |
| 11% |
| EBIT margin % | 3.1% | 9.4% | 3.9% | 10% |
| PAT margin % | 1.3% | 5% | 0.7% | 5.8% |
| Working capital | ||||
| Receivable days | 43 | 44 | 21 | 11 |
| Inventory days | 457 | 231 | 302 | 3,175 |
| Payable days | 444 | 64 | 27 | 40 |
| NWC days | 56 | 212 | 296 | 3,147 |
| Leverage | ||||
| Current ratio | 0.89 | 1.04 | 1.25 | 1.19 |
| Debt to EBITDA | 9.85 | 3.19 | 6.35 | 2.79 |
| Debt to equity | 1.58 | 1.5 | 0.63 | 1.11 |
| Interest coverage | 1.3 | 2.9 | 2.1 | 3.7 |
| Asset turnover | 1 | 1.42 | 1.23 | 1.62 |
| Return ratios | ||||
| Return on assets % | 1.3% | 7.1% | 0.9% | 9.4% |
| Return on capital employed % | 9.5% | 31.3% | 12.2% | 39.1% |
| Return on equity % | 5.1% | 22.2% | 1.5% | 21.1% |
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.