Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 19.6% | 19% | 14% | 10% | 10.5% |
| EBITDA margin % | |||||
| 3.6% |
| 4.9% |
| 2.6% |
| 0.8% |
| 1.3% |
| EBIT margin % | 3.4% | 4.7% | 2.5% | 0.7% | 1.2% |
| PAT margin % | 3.8% | 4.4% | 2.4% | 1.2% | 1.9% |
| Working capital | |||||
| Receivable days | 36 | 35 | 37 | 11 | 1 |
| Inventory days | 20 | 16 | 15 | 52 | 77 |
| Payable days | 10 | 10 | 11 | 7 | 8 |
| NWC days | 46 | 41 | 41 | 56 | 70 |
| Leverage | |||||
| Current ratio | 1.49 | 1.44 | 1.71 | 1.37 | 1.29 |
| Debt to EBITDA | 2.53 | 1.88 | 3.14 | 13.22 | 9.54 |
| Debt to equity | 0.72 | 0.59 | 0.52 | 0.64 | 0.93 |
| Interest coverage | 24 | 19.1 | 15.1 | 5.3 | 6.1 |
| Asset turnover | 3.93 | 3.46 | 3.58 | 3.01 | 2.93 |
| Return ratios | |||||
| Return on assets % | 14.8% | 15.2% | 8.5% | 3.7% | 5.5% |
| Return on capital employed % | 42.3% | 45.3% | 25.6% | 14.7% | 24.5% |
| Return on equity % | 30% | 28.3% | 15% | 7.7% | 14.2% |
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.