Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 92.4% | — | — | — |
| EBITDA margin % | 40.8% | 38.1% | ||
| 36.6% |
| 42.4% |
| EBIT margin % | 28.6% | 27.5% | 26% | 32.5% |
| PAT margin % | -0.2% | 1.2% | 9.8% | 16% |
| Working capital | ||||
| Receivable days | 24 | 25 | 22 | 19 |
| Inventory days | 55 | 6 | 6 | 6 |
| Payable days | 568 | 110 | 55 | 57 |
| NWC days | -489 | -79 | -27 | -31 |
| Leverage | ||||
| Current ratio | 0.42 | 0.69 | 1.52 | 0.65 |
| Debt to EBITDA | 7.52 | 2.33 | 3.06 | 1.66 |
| Debt to equity | 6.16 | 0.25 | 0.34 | 0.23 |
| Interest coverage | 0.9 | 0.8 | 2.6 | 3.7 |
| Asset turnover | 0.22 | 0.19 | 0.19 | 0.22 |
| Return ratios | ||||
| Return on assets % | -0.1% | 0.2% | 1.9% | 3.5% |
| Return on capital employed % | 8.6% | 7.1% | 6.8% | 8.3% |
| Return on equity % | -0.5% | 0.3% | 3% | 5.2% |
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.