Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 25% | 20.1% | 20.4% | 22.3% | 26% | 26.1% |
| EBITDA margin % | 10.5% | 8.5% | 6% | 5.6% | 9.1% | 9.9% |
| EBIT margin % | 8.9% | 7.4% | 4.7% | 3.8% | 7.3% | 8% |
| PAT margin % | 4.3% | 5.1% | 2.3% | 0.9% | 4% | 4.6% |
| Working capital | ||||||
| Receivable days | 82 | 42 | 101 | 86 | 67 | 80 |
| Inventory days | 85 | 133 | 77 | 74 | 82 | 105 |
| Payable days | 89 | 132 | 66 | 60 | 72 | 70 |
| NWC days | 78 | 43 | 112 | 100 | 76 | 115 |
| Leverage | ||||||
| Current ratio | 1.24 | 1.02 | 1.1 | 1.1 | 1.14 | 1.15 |
| Debt to EBITDA | 2.31 | 4.4 | 5.8 | 6.19 | 3.47 | 3.21 |
| Debt to equity | 0.68 | 1.33 | 1.33 | 1.13 | 1.07 | 1.02 |
| Interest coverage | 4.3 | 7.2 | 2.5 | 1.4 | 3.1 | 3.6 |
| Asset turnover | 1.17 | 0.99 | 1.25 | 1.2 | 1.24 | 1.22 |
| Return ratios | ||||||
| Return on assets % | 5.1% | 5% | 2.8% | 1% | 5% | 5.6% |
| Return on capital employed % | 23.3% | 25.1% | 20.1% | 11.6% | 23.8% | 29.3% |
| Return on equity % | 12.2% | 17.9% | 8.7% | 2.8% | 13.6% | 14.7% |
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.