Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 54.2% | 52.3% | 52.3% | 44.3% | 41.2% |
| EBITDA margin % | 21.7% | 19.5% | 13.3% | -0.3% | -17% |
| EBIT margin % | 16% | 14.2% | 8.9% | -4.6% | -23.2% |
| PAT margin % | 18.7% | 14.2% | 13% | 5.5% | 10.2% |
| Working capital | |||||
| Receivable days | 75 | 92 | 126 | 148 | 222 |
| Inventory days | 198 | 190 | 248 | 225 | 237 |
| Payable days | 78 | 69 | 108 | 112 | 123 |
| NWC days | 195 | 213 | 266 | 261 | 335 |
| Leverage | |||||
| Current ratio | 2.38 | 3.87 | 2.14 | 1.86 | 1.89 |
| Debt to EBITDA | 0.91 | 1.26 | 1.92 | — | — |
| Debt to equity | 0.28 | 0.17 | 0.12 | 0.14 | 0.14 |
| Interest coverage | 13.2 | 8.4 | 8.3 | 3.6 | 5.6 |
| Asset turnover | 0.97 | 0.54 | 0.41 | 0.34 | 0.18 |
| Return ratios | |||||
| Return on assets % | 18.3% | 7.7% | 5.3% | 1.9% | 1.8% |
| Return on capital employed % | 26.7% | 14.3% | 9.7% | 4.8% | 5.8% |
| Return on equity % | 26.5% | 9.6% | 6.4% | 2.3% | 2.2% |
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.