Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 17.9% | 16.1% | 21.9% | 17.8% |
| EBITDA margin % | 6.2% | 6.4% | 8.6% | 7% |
| EBIT margin % | 5.8% | 6% | 7.9% | 6.5% |
| PAT margin % | 3.7% | 5% | 4.7% | 3.5% |
| Working capital | ||||
| Receivable days | 37 | 41 | 64 | 52 |
| Inventory days | 87 | 135 | 274 | 280 |
| Payable days | 49 | 43 | 69 | 75 |
| NWC days | 75 | 133 | 269 | 256 |
| Leverage | ||||
| Current ratio | 1.14 | 1.58 | 1.52 | 1.29 |
| Debt to EBITDA | 3.54 | 4.03 | 5.45 | 7.76 |
| Debt to equity | 1.91 | 0.9 | 1.03 | 1.5 |
| Interest coverage | 4.6 | 4 | 2.5 | 2.2 |
| Asset turnover | 2.13 | 1.49 | 0.91 | 0.9 |
| Return ratios | ||||
| Return on assets % | 7.9% | 7.4% | 4.3% | 3.1% |
| Return on capital employed % | 53.5% | 37.8% | 22% | 24.7% |
| Return on equity % | 32.4% | 17.2% | 10.3% | 9.5% |
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.