Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | — | 26.6% | 29.1% | 23% |
| EBITDA margin % | 8.8% | 9.9% | 8.5% | 10.1% |
| EBIT margin % | 8.8% | 8.9% | 7.2% | 9.5% |
| PAT margin % | 7% | 9.3% | 7.6% | 7.9% |
| Working capital | ||||
| Receivable days | 58 | 75 | — | — |
| Inventory days | 54 | 99 | 205 | 120 |
| Payable days | — | — | — | — |
| NWC days | — | — | — | — |
| Leverage | ||||
| Current ratio | — | 1.83 | 1.45 | 1.44 |
| Debt to EBITDA | 0.74 | 0.64 | — | — |
| Debt to equity | 0.3 | 0.12 | — | — |
| Interest coverage | 5 | 14.2 | 5.8 | 7 |
| Asset turnover | 1.69 | 1.09 | 0.72 | 0.84 |
| Return ratios | ||||
| Return on assets % | 11.8% | 10.1% | 5.5% | 6.7% |
| Return on capital employed % | — | 23.4% | 17.5% | 24.2% |
| Return on equity % | 32.7% | 17.9% | — | — |
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.