Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 19.8% | 22.6% | 19.8% | 17.9% |
| EBITDA margin % | 11.7% | 14.5% | ||
| 13.8% |
| 12.1% |
| EBIT margin % | 11.4% | 14.2% | 13.6% | 11.8% |
| PAT margin % | 5% | 5.6% | 6.6% | 5.9% |
| Working capital | ||||
| Receivable days | 169 | 193 | 163 | — |
| Inventory days | 139 | 128 | 137 | 135 |
| Payable days | — | — | — | — |
| NWC days | — | — | — | — |
| Leverage | ||||
| Current ratio | 1.68 | 2.08 | 3.18 | 2.47 |
| Debt to EBITDA | 5.89 | 4.12 | 2.55 | — |
| Debt to equity | 3.85 | 1.82 | 0.55 | — |
| Interest coverage | 2 | 2.2 | 3.1 | 3.1 |
| Asset turnover | 0.93 | 0.91 | 0.86 | 0.82 |
| Return ratios | ||||
| Return on assets % | 4.6% | 5.1% | 5.7% | 4.8% |
| Return on capital employed % | 26.4% | 30.8% | 23.1% | 16.8% |
| Return on equity % | 28% | 17% | 10.3% | — |
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.