Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 6.5% | 7.3% | 5.2% | 4.3% | 4.6% | 4.6% |
| EBITDA margin % | 3% | 2.9% | 2.5% | 2% | 2.3% | 2% |
| EBIT margin % | 2.3% | 2.4% | 2.2% | 1.9% | 1.7% | 1.7% |
| PAT margin % | 1.7% | 1.6% | 1.2% | 1% | 0.9% | 1.1% |
| Working capital | ||||||
| Receivable days | 65 | 123 | 114 | 117 | 42 | 12 |
| Inventory days | 167 | 153 | 89 | 42 | 74 | 71 |
| Payable days | 0 | 0 | 0 | 30 | 33 | 5 |
| NWC days | 233 | 276 | 203 | 128 | 82 | 78 |
| Leverage | ||||||
| Current ratio | 7.03 | 8.72 | 13.91 | 6.26 | 5.54 | 4.54 |
| Debt to EBITDA | 3.42 | 2.49 | 2.07 | 1.84 | 1.05 | 0.22 |
| Debt to equity | 0.15 | 0.09 | 0.09 | 0.07 | 0.04 | 0.01 |
| Interest coverage | 9.3 | 7.2 | 4.1 | 4 | 4 | 10.8 |
| Asset turnover | 1.23 | 1.17 | 1.58 | 1.51 | 1.48 | 1.81 |
| Return ratios | ||||||
| Return on assets % | 2% | 1.8% | 1.8% | 1.6% | 1.3% | 2% |
| Return on capital employed % | 3.9% | 4.1% | 3.9% | 3.9% | 3.2% | 3.5% |
| Return on equity % | 2.4% | 2% | 2% | 1.9% | 1.5% | 2.5% |
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.