Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 17.5% | 27.3% | 18.5% | 18.1% |
| EBITDA margin % | 12% | 13.7% | 13.8% | 10.7% |
| EBIT margin % | 11.5% | 13.1% | 13.3% | 9.4% |
| PAT margin % | 7.7% | 10.1% | 8.2% | 6.2% |
| Working capital | ||||
| Receivable days | 208 | 82 | 74 | 137 |
| Inventory days | 98 | 176 | 141 | 186 |
| Payable days | 69 | 168 | 100 | 168 |
| NWC days | 238 | 89 | 114 | 155 |
| Leverage | ||||
| Current ratio | 2.17 | 2.09 | 1.48 | 1.62 |
| Debt to EBITDA | 0.99 | 0.92 | 2.37 | 5.79 |
| Debt to equity | 0.2 | 0.17 | 0.65 | 0.41 |
| Interest coverage | 8.8 | 9.1 | 4.8 | 2.4 |
| Asset turnover | 0.98 | 0.78 | 0.81 | 0.38 |
| Return ratios | ||||
| Return on assets % | 7.5% | 7.8% | 6.7% | 2.3% |
| Return on capital employed % | 20.3% | 19.3% | 31.7% | 14.1% |
| Return on equity % | 13.1% | 13.8% | 16.3% | 4.1% |
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.