Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 9% | 13.2% | 13.1% | 10.8% | 9.9% |
| EBITDA margin % | 3.9% | 4.4% | 4.7% | 4.5% | 4.9% |
| EBIT margin % | 3.5% | 3.7% | 4% | 4% | 4.5% |
| PAT margin % | 1.3% | 1.1% | 1.3% | 1.3% | 1.2% |
| Working capital | |||||
| Receivable days | — | 100 | 87 | 113 | 110 |
| Inventory days | — | 89 | 99 | 95 | 90 |
| Payable days | — | 73 | 52 | 56 | 43 |
| NWC days | — | 115 | 135 | 152 | 157 |
| Leverage | |||||
| Current ratio | — | 1.29 | 1.7 | 1.48 | 1.4 |
| Debt to EBITDA | — | 5.95 | 3.17 | 5.81 | 5.35 |
| Debt to equity | — | 1.94 | 0.61 | 0.89 | 0.98 |
| Interest coverage | 1.7 | 1.5 | 1.7 | 1.6 | 1.8 |
| Asset turnover | — | 1.67 | 1.73 | 1.4 | 1.51 |
| Return ratios | |||||
| Return on assets % | — | 1.9% | 2.3% | 1.8% | 1.8% |
| Return on capital employed % | — | 21.6% | 20.1% | 15.6% | 17.9% |
| Return on equity % | — | 8.3% | 5.5% | 4.5% | 4.5% |
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.