Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 17.2% | 10.8% | 9.7% | 9.4% | 11.1% | 5.1% |
| EBITDA margin % | 8.8% | 3.6% | 2.8% | 4.1% | 5.7% | -0.1% |
| EBIT margin % | 8.5% | 3.2% | 2.5% | 3.7% | 4.4% | -0.7% |
| PAT margin % | 5.2% | 1.4% | 0.4% | 1.4% | 2% | 3% |
| Working capital | ||||||
| Receivable days | 83 | 83 | 88 | 93 | 37 | 58 |
| Inventory days | 88 | 100 | 94 | 117 | 178 | 126 |
| Payable days | 32 | 32 | 36 | 58 | 36 | 9 |
| NWC days | 140 | 152 | 145 | 153 | 179 | 176 |
| Leverage | ||||||
| Current ratio | 1.73 | 1.77 | 1.67 | 1.41 | 2.56 | 4.78 |
| Debt to EBITDA | 2 | 6.47 | 7.56 | 9.78 | 2.96 | — |
| Debt to equity | 0.59 | 0.69 | 0.64 | 1.09 | 0.32 | 0.07 |
| Interest coverage | 5.4 | 2.2 | 1.5 | 1.9 | 2.3 | 5.3 |
| Asset turnover | 1.74 | 1.54 | 1.53 | 1.08 | 1.25 | 1.1 |
| Return ratios | ||||||
| Return on assets % | 8.9% | 2.2% | 0.6% | 1.5% | 2.5% | 3.3% |
| Return on capital employed % | 27% | 9.8% | 7.7% | 10.2% | 8.8% | 4.9% |
| Return on equity % | 17.2% | 4.3% | 1.2% | 3.7% | 3.8% | 3.7% |
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.