Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 18.3% | 18.8% | 16.5% | 16% |
| EBITDA margin % | 4.6% | 4.4% | ||
| 1.5% |
| 2% |
| EBIT margin % | 2.8% | 2.5% | -0.6% | -0.7% |
| PAT margin % | 1.2% | 1% | -1.3% | -1.8% |
| Working capital | ||||
| Receivable days | 12 | 12 | 10 | 11 |
| Inventory days | 35 | 50 | 53 | 39 |
| Payable days | 7 | 19 | 9 | 9 |
| NWC days | 40 | 43 | 54 | 41 |
| Leverage | ||||
| Current ratio | 1.02 | 1.18 | 1.06 | 0.8 |
| Debt to EBITDA | 2.1 | 1.49 | 7.05 | 6.93 |
| Debt to equity | 1.04 | 0.35 | 0.6 | 0.98 |
| Interest coverage | 1.9 | 1.5 | 0.2 | -0 |
| Asset turnover | 2.95 | 2.16 | 2.09 | 1.92 |
| Return ratios | ||||
| Return on assets % | 3.4% | 2.1% | -2.7% | -3.4% |
| Return on capital employed % | 15.1% | 12.6% | 1.2% | -0.2% |
| Return on equity % | 12.6% | 5.2% | -7.4% | -12.6% |
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.