Standalone figures
| Ratio | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 7% | 6.8% | 7% | 8% | 10.3% |
| EBITDA margin % | |||||
| 4.2% |
| 4% |
| 4.3% |
| 5.2% |
| 7.5% |
| EBIT margin % | 3.9% | 3.7% | 4% | 4.9% | 7.2% |
| PAT margin % | 2.3% | 2.3% | 2.6% | 3.4% | 5.2% |
| Working capital | |||||
| Receivable days | — | 0 | 0 | 0 | 0 |
| Inventory days | — | 69 | 76 | 87 | 100 |
| Payable days | — | 12 | 12 | 21 | 11 |
| NWC days | — | 56 | 64 | 66 | 89 |
| Leverage | |||||
| Current ratio | — | 1.82 | 1.72 | 1.84 | 2.14 |
| Debt to EBITDA | — | 1.38 | 1.6 | 0.95 | 0.94 |
| Debt to equity | — | 0.6 | 0.67 | 0.41 | 0.45 |
| Interest coverage | 4.4 | 5.7 | 8.2 | 11.5 | 18.4 |
| Asset turnover | — | 4.84 | 4.35 | 3.95 | 3.56 |
| Return ratios | |||||
| Return on assets % | — | 11.1% | 11.5% | 13.5% | 18.5% |
| Return on capital employed % | — | 34.9% | 40.8% | 48.7% | 55.5% |
| Return on equity % | — | 25% | 25.9% | 27.9% | 33.5% |
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.