Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 58.1% | 65.2% | 60% | 62.2% | 64.5% | 43.9% |
| EBITDA margin % | 23.8% | 27.8% | 28.6% | 27.2% | 29.6% | 24.2% |
| EBIT margin % | 17.5% | 22.1% | 23.5% | 20.8% | 19.5% | 17.3% |
| PAT margin % | 8.6% | 14.1% | 13.1% | 10.4% | 8.1% | 9.6% |
| Working capital | ||||||
| Receivable days | 92 | 96 | 106 | 176 | 266 | 200 |
| Inventory days | 528 | 849 | 626 | 849 | 1,553 | 543 |
| Payable days | 213 | 223 | 202 | 332 | 631 | 335 |
| NWC days | 407 | 722 | 530 | 692 | 1,188 | 408 |
| Leverage | ||||||
| Current ratio | 2.6 | 2.43 | 2.56 | 1.61 | 1.37 | 1.29 |
| Debt to EBITDA | 2 | 2.69 | 2.14 | 3.31 | 4.78 | 3.76 |
| Debt to equity | 0.25 | 0.46 | 0.33 | 0.37 | 0.45 | 0.47 |
| Interest coverage | 2.5 | 8.1 | 4.9 | 3 | 1.8 | 2.2 |
| Asset turnover | 0.35 | 0.37 | 0.36 | 0.26 | 0.18 | 0.28 |
| Return ratios | ||||||
| Return on assets % | 3% | 5.2% | 4.7% | 2.7% | 1.5% | 2.7% |
| Return on capital employed % | 9% | 12% | 11.9% | 8.9% | 6% | 9% |
| Return on equity % | 4.4% | 8.7% | 7.1% | 4.3% | 2.6% | 5% |
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.