Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 66.9% | 64.1% | 65% | 63.6% | 61.2% | 62.8% |
| EBITDA margin % | 19% | 14.9% | 10.6% | 8.1% | 7.1% | 8.5% |
| EBIT margin % | 13.6% | 10.7% | 5.6% | 5% | 3.9% | 5.1% |
| PAT margin % | 6% | 5.6% | 2.3% | 0.8% | -0.3% | 0.8% |
| Working capital | ||||||
| Receivable days | 129 | 114 | 127 | 141 | 134 | 117 |
| Inventory days | 451 | 357 | 433 | 516 | 516 | 548 |
| Payable days | 220 | 180 | 253 | 303 | 302 | 275 |
| NWC days | 360 | 291 | 307 | 354 | 348 | 390 |
| Leverage | ||||||
| Current ratio | 1.3 | 2.33 | 1.65 | 1.62 | 1.58 | 1.75 |
| Debt to EBITDA | 2.96 | 1.17 | 2.81 | 3.97 | 4.23 | 3.8 |
| Debt to equity | 1.05 | 0.21 | 0.34 | 0.35 | 0.33 | 0.33 |
| Interest coverage | 1.8 | 3.6 | 2.2 | 1.2 | 1.1 | 1.3 |
| Asset turnover | 0.69 | 0.8 | 0.68 | 0.62 | 0.62 | 0.59 |
| Return ratios | ||||||
| Return on assets % | 4.1% | 4.5% | 1.6% | 0.5% | -0.2% | 0.4% |
| Return on capital employed % | 18.3% | 14.2% | 6.7% | 5.6% | 4.2% | 4.9% |
| Return on equity % | 11.2% | 6.8% | 2.7% | 0.8% | -0.3% | 0.8% |
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.