Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 18.3% | 15.8% | 17.7% | 16.3% | 14.9% |
| EBITDA margin % | 5.7% | -2.1% | 0.9% | -0.3% | 0.5% |
| EBIT margin % | 4.2% | -4.3% | -1.2% | -2.4% | -0.9% |
| PAT margin % | 2.5% | -4.1% | -0.2% | 0.3% | -0.8% |
| Working capital | |||||
| Receivable days | — | 16 | 10 | 8 | 5 |
| Inventory days | — | 142 | 162 | 132 | 123 |
| Payable days | — | 17 | 11 | 20 | 16 |
| NWC days | — | 142 | 161 | 120 | 112 |
| Leverage | |||||
| Current ratio | — | 1.67 | 1.57 | 1.56 | 1.56 |
| Debt to EBITDA | — | — | 37.46 | — | 53.34 |
| Debt to equity | — | 0.89 | 0.8 | 0.74 | 0.7 |
| Interest coverage | 4 | -2.4 | 1.2 | -0.1 | 0.5 |
| Asset turnover | — | 1.46 | 1.2 | 1.26 | 1.35 |
| Return ratios | |||||
| Return on assets % | — | -6% | -0.2% | 0.4% | -1.1% |
| Return on capital employed % | — | -8.4% | 5.9% | -0.5% | 3% |
| Return on equity % | — | -12.2% | -0.4% | 0.7% | -1.9% |
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.