Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 13.9% | 15% | 14.4% | 12.1% | 13.7% | 13% |
| EBITDA margin % | 5.5% | 6.3% | 7.7% | 5% | 6.2% | 6.6% |
| EBIT margin % | 4.5% | 5.3% | 6.9% | 4% | 4.7% | 4.9% |
| PAT margin % | 2.6% | 2.9% | 3.6% | 2.4% | 1.1% | 1.7% |
| Working capital | ||||||
| Receivable days | 35 | 34 | 33 | 39 | 43 | 34 |
| Inventory days | 127 | 56 | 37 | 28 | 47 | 43 |
| Payable days | 6 | 4 | 5 | 4 | 5 | 7 |
| NWC days | 156 | 87 | 65 | 63 | 85 | 70 |
| Leverage | ||||||
| Current ratio | 1.24 | 1.34 | 1.41 | 2.15 | 1.1 | 1.12 |
| Debt to EBITDA | 5.63 | 2.96 | 2.79 | 4.48 | 6.03 | 3.72 |
| Debt to equity | 1.66 | 0.96 | 1.27 | 0.62 | 1.42 | 1.29 |
| Interest coverage | 3.4 | 3.3 | 3.1 | 2.9 | 1.5 | 1.8 |
| Asset turnover | 1.8 | 2.47 | 2.43 | 1.64 | 1.49 | 1.99 |
| Return ratios | ||||||
| Return on assets % | 4.6% | 7% | 8.8% | 4% | 1.6% | 3.4% |
| Return on capital employed % | 22.3% | 25.2% | 33.1% | 11.9% | 11.4% | 16.5% |
| Return on equity % | 13.7% | 14.7% | 21.1% | 6.7% | 4.1% | 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.