Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 31.4% | 65.1% | 50.6% | 72.1% | 64.2% |
| EBITDA margin % | 7% | 14.7% | 15.5% | 17.1% | 13.1% |
| EBIT margin % | 5.1% | 10.8% | 12.2% | 11.9% | 7.7% |
| PAT margin % | 2.8% | 13% | 10.8% | 10.4% | 8.8% |
| Working capital | |||||
| Receivable days | — | 135 | 102 | 172 | 150 |
| Inventory days | — | 6 | 11 | 24 | 22 |
| Payable days | — | 145 | 104 | 158 | 132 |
| NWC days | — | -3 | 9 | 38 | 40 |
| Leverage | |||||
| Current ratio | — | 1.76 | 1.51 | 1.45 | 2.43 |
| Debt to EBITDA | — | 1.74 | 1.73 | 2.43 | 2.52 |
| Debt to equity | — | 0.1 | 0.16 | 0.16 | 0.12 |
| Interest coverage | 3.7 | 4.9 | 5.9 | 3.8 | 3.6 |
| Asset turnover | — | 0.32 | 0.43 | 0.29 | 0.29 |
| Return ratios | |||||
| Return on assets % | — | 4.1% | 4.7% | 3.1% | 2.6% |
| Return on capital employed % | — | 6.3% | 9.2% | 7.5% | 5.9% |
| Return on equity % | — | 5.3% | 6.4% | 4.1% | 3.3% |
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.