Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 68.4% | 50.1% | 33.5% | 58.3% |
| EBITDA margin % | 25.3% | 18.6% | -25.9% | 6.7% |
| EBIT margin % | 18.9% | 11.9% | -43.5% | -12.2% |
| PAT margin % | 17.2% | 15.1% | -31% | -3.4% |
| Working capital | ||||
| Receivable days | 113 | 55 | 131 | 204 |
| Inventory days | 649 | 224 | 300 | 536 |
| Payable days | 87 | 36 | 26 | 155 |
| NWC days | 676 | 243 | 405 | 585 |
| Leverage | ||||
| Current ratio | 2.57 | 8.69 | 8.58 | 2.56 |
| Debt to EBITDA | 1.84 | 0 | — | 4.72 |
| Debt to equity | 0.27 | 0 | 0 | 0.12 |
| Interest coverage | 9.4 | 18.7 | -33.3 | -1.4 |
| Asset turnover | 0.38 | 0.43 | 0.24 | 0.28 |
| Return ratios | ||||
| Return on assets % | 6.6% | 6.4% | -7.5% | -0.9% |
| Return on capital employed % | 13.5% | 13.4% | -7.8% | -0.9% |
| Return on equity % | 9.9% | 7.2% | -8.3% | -1.3% |
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.