Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 33.9% | 40.1% | 41% | 25% |
| EBITDA margin % | 16.5% | 24.3% | 21.7% | 19.5% |
| EBIT margin % | 11.3% | 15% | 13.3% | 13.6% |
| PAT margin % | 6.6% | 8.8% | 8.4% | 8.6% |
| Working capital | ||||
| Receivable days | 85 | 115 | 120 | 160 |
| Inventory days | 145 | 68 | 157 | 112 |
| Payable days | 33 | 0 | 127 | 3 |
| NWC days | 198 | 183 | 150 | 269 |
| Leverage | ||||
| Current ratio | 2.5 | 1.98 | 2.22 | 5.84 |
| Debt to EBITDA | 1.3 | 1.12 | 0.97 | 1.17 |
| Debt to equity | 0.38 | 0.46 | 0.26 | 0.3 |
| Interest coverage | 4.5 | 3.6 | 4.2 | 5.5 |
| Asset turnover | 1.08 | 0.95 | 0.77 | 0.95 |
| Return ratios | ||||
| Return on assets % | 7.1% | 8.4% | 6.5% | 8.2% |
| Return on capital employed % | 17.2% | 23.1% | 19.2% | 18.4% |
| Return on equity % | 11.6% | 15% | 10.3% | 11.2% |
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.