Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 14% | 16.2% | 16.3% | 15.1% |
| EBITDA margin % | 6.7% | 8.2% | 7.3% | 6.1% |
| EBIT margin % | 5% | 5.7% | 5.1% | 3.2% |
| PAT margin % | 2.1% | 2.6% | 2.7% | 0.9% |
| Working capital | ||||
| Receivable days | 114 | 55 | 50 | 68 |
| Inventory days | 81 | 116 | 117 | 187 |
| Payable days | 107 | 127 | 108 | 159 |
| NWC days | 87 | 43 | 59 | 96 |
| Leverage | ||||
| Current ratio | 0.88 | 1.33 | 1.04 | 1.02 |
| Debt to EBITDA | 4.8 | 2.85 | 2.34 | 5.58 |
| Debt to equity | 1.57 | 0.37 | 0.39 | 0.66 |
| Interest coverage | 2.5 | 2.3 | 2.4 | 1.4 |
| Asset turnover | 1.05 | 0.8 | 1.08 | 0.77 |
| Return ratios | ||||
| Return on assets % | 2.2% | 2.1% | 2.9% | 0.7% |
| Return on capital employed % | 16.5% | 12% | 12.7% | 7.7% |
| Return on equity % | 10.4% | 4.1% | 6.1% | 1.8% |
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.