Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 16.9% | 9.9% | 13.3% | 20% | 21.8% | 26.3% |
| EBITDA margin % | 6% | 3.3% | 4.6% | 10.1% | 10.5% | 10.8% |
| EBIT margin % | 3.8% | 2.2% | 3.5% | 8.7% | 9.3% | 8.1% |
| PAT margin % | 0.7% | 6.2% | 2.1% | 5.2% | 5.8% | 3.8% |
| Working capital | ||||||
| Receivable days | — | 51 | 41 | 57 | 53 | 42 |
| Inventory days | 95 | 54 | 48 | 71 | 78 | 117 |
| Payable days | — | 64 | 43 | 53 | 37 | 50 |
| NWC days | — | 40 | 46 | 75 | 94 | 109 |
| Leverage | ||||||
| Current ratio | 1.15 | 1.58 | 2.21 | 1.69 | 2.3 | 1.24 |
| Debt to EBITDA | — | 1.37 | 0.64 | 0.76 | 1.96 | 3.72 |
| Debt to equity | — | 0.24 | 0.13 | 0.23 | 0.4 | 0.73 |
| Interest coverage | 1.3 | 1.8 | 3.8 | 5.4 | 5.1 | 2.6 |
| Asset turnover | 1.53 | 2.37 | 2.58 | 1.77 | 1.21 | 0.92 |
| Return ratios | ||||||
| Return on assets % | 1.1% | 14.7% | 5.4% | 9.2% | 7% | 3.5% |
| Return on capital employed % | 14.9% | 13.1% | 15.8% | 26.3% | 18.6% | 11.7% |
| Return on equity % | — | 32.3% | 8.9% | 15.6% | 11.1% | 6.9% |
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.