Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 34.2% | 36.8% | 35.3% | 33.1% |
| EBITDA margin % | 8.3% | 9.6% | 6.7% | 8.4% |
| EBIT margin % | 6.6% | 7.7% | 4.6% | 6.3% |
| PAT margin % | 3.7% | 4% | 1.7% | 2.6% |
| Working capital | ||||
| Receivable days | 90 | 98 | 103 | 106 |
| Inventory days | 175 | 210 | 218 | 191 |
| Payable days | 84 | 70 | 92 | 108 |
| NWC days | 181 | 238 | 229 | 189 |
| Leverage | ||||
| Current ratio | 1.57 | 1.47 | 1.36 | 1.36 |
| Debt to EBITDA | 3.05 | 3.99 | 6.12 | 3.93 |
| Debt to equity | 0.79 | 1.08 | 1.16 | 0.97 |
| Interest coverage | 3.3 | 3.3 | 1.7 | 1.9 |
| Asset turnover | 1.23 | 1.08 | 0.98 | 1.07 |
| Return ratios | ||||
| Return on assets % | 4.6% | 4.4% | 1.6% | 2.7% |
| Return on capital employed % | 16.8% | 19.7% | 12.7% | 16.3% |
| Return on equity % | 11.5% | 11.5% | 4.7% | 7.6% |
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.