Standalone figures
| Ratio | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 19.4% | 11.5% | 14.8% | 16.5% | 16.2% |
| EBITDA margin % | 10.2% | 5% | 6.4% | 9.2% | 10.9% |
| EBIT margin % | 8.8% | 4.3% | 5.5% | 8.2% | 10.4% |
| PAT margin % | 4.6% | 1.7% | 0.4% | 5.1% | 6.6% |
| Working capital | |||||
| Receivable days | — | 157 | 181 | 204 | 153 |
| Inventory days | — | 94 | 112 | 103 | 78 |
| Payable days | — | 72 | 110 | 82 | 104 |
| NWC days | — | 179 | 183 | 226 | 127 |
| Leverage | |||||
| Current ratio | — | 1.52 | 1.46 | 2.29 | 2.09 |
| Debt to EBITDA | — | 6.11 | 5.17 | 1.92 | 0.97 |
| Debt to equity | — | 0.93 | 0.86 | 0.29 | 0.23 |
| Interest coverage | 2.4 | 1.6 | 2.1 | 3.8 | 10.2 |
| Asset turnover | — | 1.17 | 0.99 | 0.99 | 1.15 |
| Return ratios | |||||
| Return on assets % | — | 1.9% | 0.4% | 5% | 7.6% |
| Return on capital employed % | — | 15.1% | 22.9% | 18.5% | 29% |
| Return on equity % | — | 5% | 1.1% | 8.4% | 14.1% |
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.