Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 74.3% | 44.7% | 19.3% | 32.2% | 21.9% |
| EBITDA margin % | 12.9% | 23.5% | 4.5% | -3.8% | -11.9% |
| EBIT margin % | 12.5% | 22.1% | 3.8% | -6% | -14.1% |
| PAT margin % | 14.1% | 33.3% | 11.1% | 17% | 6.1% |
| Working capital | |||||
| Receivable days | 32 | 45 | 4 | 14 | 35 |
| Inventory days | 2,048 | 3,035 | 432 | 1,262 | 900 |
| Payable days | 405 | 566 | 122 | 367 | 249 |
| NWC days | 1,674 | 2,514 | 314 | 909 | 687 |
| Leverage | |||||
| Current ratio | 1.14 | 1.58 | 2.67 | 3.11 | 3.4 |
| Debt to EBITDA | 7.39 | 5.87 | 16.49 | — | — |
| Debt to equity | 1.14 | 0.3 | 0.45 | 0.14 | 0.25 |
| Interest coverage | 7.3 | 16.4 | 5.6 | 4 | 2.4 |
| Asset turnover | 0.34 | 0.1 | 0.31 | 0.14 | 0.17 |
| Return ratios | |||||
| Return on assets % | 4.8% | 3.4% | 3.4% | 2.4% | 1% |
| Return on capital employed % | 20.4% | 12.4% | 9.1% | 6.7% | 2.9% |
| Return on equity % | 17% | 7.2% | 6.8% | 3.7% | 1.6% |
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.