Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 13.9% | -10.1% | 5.5% | 11.9% |
| EBITDA margin % | 6% | -14.2% | -0.1% | 4.5% |
| EBIT margin % | 5.2% | -14.7% | -0.4% | 4.2% |
| PAT margin % | 3.7% | 0.3% | -2.9% | 1.1% |
| Working capital | ||||
| Receivable days | 152 | 233 | 195 | 289 |
| Inventory days | 285 | 171 | 154 | 156 |
| Payable days | 90 | 32 | 98 | 102 |
| NWC days | 347 | 372 | 252 | 342 |
| Leverage | ||||
| Current ratio | 2.85 | 2.91 | 2.16 | 2.32 |
| Debt to EBITDA | 3.83 | — | — | 5.51 |
| Debt to equity | 0.19 | 0.28 | 0.27 | 0.26 |
| Interest coverage | 2.5 | 1.1 | 0.1 | 3.7 |
| Asset turnover | 0.6 | 0.56 | 0.69 | 0.68 |
| Return ratios | ||||
| Return on assets % | 2.2% | 0.1% | -2% | 0.7% |
| Return on capital employed % | 5.5% | 2.1% | 0.2% | 8% |
| Return on equity % | 3.1% | 0.2% | -3.1% | 1.2% |
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.