Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 12.4% | 10% | 10.4% | 11.7% | 11.8% | 10.1% |
| EBITDA margin % | 3.6% | 3.3% | 2.9% | 2.3% | 3.9% | 2.7% |
| EBIT margin % | 2.9% | 2.8% | 2.3% | 1.7% | 3.4% | 2.2% |
| PAT margin % | 1.8% | 1.5% | 1.1% | 0.6% | 2% | 1.4% |
| Working capital | ||||||
| Receivable days | 15 | 15 | 13 | 13 | 15 | 14 |
| Inventory days | 54 | 57 | 52 | 58 | 56 | 44 |
| Payable days | 58 | 67 | 56 | 54 | 53 | 16 |
| NWC days | 10 | 5 | 9 | 17 | 18 | 42 |
| Leverage | ||||||
| Current ratio | 1.05 | 1.28 | 1.3 | 1.28 | 1.3 | 1.32 |
| Debt to EBITDA | 2.22 | 1.45 | 1.31 | 1.91 | 0.69 | 0.37 |
| Debt to equity | 0.96 | 0.34 | 0.27 | 0.26 | 0.18 | 0.07 |
| Interest coverage | 2.9 | 3.1 | 2.1 | 1.6 | 3.5 | 3 |
| Asset turnover | 2.84 | 2.59 | 2.82 | 2.62 | 2.87 | 3.08 |
| Return ratios | ||||||
| Return on assets % | 5% | 4% | 3.1% | 1.5% | 5.7% | 4.2% |
| Return on capital employed % | 24.4% | 24.8% | 18% | 12.1% | 23.1% | 17.8% |
| Return on equity % | 21.3% | 11% | 7.6% | 3.4% | 13% | 9.5% |
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.