Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 81.6% | 76.1% | 71.8% | 68.9% | 70% | 71.1% |
| EBITDA margin % | 19.3% | 14.1% | 9.6% | 12.3% | 11.5% | 13.8% |
| EBIT margin % | 9.2% | 5.2% | 1.4% | 5.1% | 4.4% | 7.2% |
| PAT margin % | 0.4% | 0.8% | 1.1% | 1.7% | 0.5% | 2.7% |
| Working capital | ||||||
| Receivable days | 24 | 23 | 26 | 28 | 29 | 30 |
| Inventory days | 172 | 160 | 106 | 87 | 71 | 70 |
| Payable days | 228 | 181 | 168 | 161 | 170 | 162 |
| NWC days | -32 | 2 | -36 | -45 | -70 | -62 |
| Leverage | ||||||
| Current ratio | 0.51 | 0.6 | 0.52 | 0.52 | 0.49 | 0.5 |
| Debt to EBITDA | 4.95 | 3.45 | 3.9 | 2.65 | 2.59 | 2.66 |
| Debt to equity | 0.75 | 0.4 | 0.36 | 0.32 | 0.28 | 0.38 |
| Interest coverage | 1.2 | 1.3 | 0.6 | 1.6 | 1.1 | 2 |
| Asset turnover | 0.35 | 0.44 | 0.52 | 0.54 | 0.54 | 0.56 |
| Return ratios | ||||||
| Return on assets % | 0.1% | 0.3% | 0.5% | 0.9% | 0.3% | 1.5% |
| Return on capital employed % | 4.8% | 3.8% | 1.7% | 4.6% | 3.2% | 6.4% |
| Return on equity % | 0.3% | 0.6% | 1% | 1.7% | 0.4% | 2.8% |
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.