Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 25.3% | 24.6% | 25.4% | 20.1% |
| EBITDA margin % | 15.6% | 17.3% | 17.6% | 10.6% |
| EBIT margin % | 14.5% | 15.9% | 16.1% | 8.9% |
| PAT margin % | 10.5% | 11.1% | 10.6% | 7.2% |
| Working capital | ||||
| Receivable days | 68 | 37 | 99 | 55 |
| Inventory days | 164 | 187 | 152 | 232 |
| Payable days | 3 | 5 | 1 | 18 |
| NWC days | 230 | 218 | 250 | 269 |
| Leverage | ||||
| Current ratio | 2.12 | 2.47 | 1.96 | 2.45 |
| Debt to EBITDA | 1.35 | 1.42 | 1.63 | 2.23 |
| Debt to equity | 0.5 | 0.48 | 0.51 | 0.18 |
| Interest coverage | 10.9 | 11.8 | 10.2 | 4.8 |
| Asset turnover | 1.44 | 1.23 | 1.12 | 0.63 |
| Return ratios | ||||
| Return on assets % | 15.1% | 13.6% | 11.9% | 4.5% |
| Return on capital employed % | 34.2% | 33.9% | 30.6% | 11.8% |
| Return on equity % | 24.9% | 21.7% | 18.8% | 5.6% |
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.