Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 49.3% | 46.1% | 48.2% | 46.5% | 43.1% |
| EBITDA margin % | |||||
Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 49.3% | 46.1% | 48.2% | 46.5% | 43.1% |
| EBITDA margin % | |||||
| 13.3% |
| 13.2% |
| 16.7% |
| 16.6% |
| 14.5% |
| EBIT margin % | 13.3% | 13.2% | 13.5% | 12.5% | 10.9% |
| PAT margin % | 8.6% | 9.3% | 9.3% | 9.1% | 10.1% |
| Working capital | |||||
| Receivable days | 69 | — | 18 | 20 | 32 |
| Inventory days | 962 | — | 292 | 411 | 306 |
| Payable days | — | — | 106 | 169 | 97 |
| NWC days | — | — | 205 | 262 | 241 |
| Leverage | |||||
| Current ratio | 2.02 | — | 1.46 | 1.33 | 1.57 |
| Debt to EBITDA | 0.72 | — | 0.53 | 1.09 | 1.1 |
| Debt to equity | 0.09 | — | 0.25 | 0.46 | 0.38 |
| Interest coverage | 10 | 11.3 | 8 | 5.9 | 5.8 |
| Asset turnover | 0.36 | — | 1.17 | 0.91 | 1.05 |
| Return ratios | |||||
| Return on assets % | 3.1% | — | 10.8% | 8.3% | 10.6% |
| Return on capital employed % | 6.8% | — | 27.3% | 28.6% | 32% |
| Return on equity % | 8.4% | — | 26.9% | 23.4% | 23.8% |
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.