Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 54.4% | 47.1% | 45.6% | 49.4% |
| EBITDA margin % | 18.4% | 18.3% | ||
| 16.3% |
| 12.2% |
| EBIT margin % | 17.5% | 17.7% | 15.4% | 9.6% |
| PAT margin % | 12.2% | 14.6% | 11.3% | 9.6% |
| Working capital | ||||
| Receivable days | 119 | 58 | 51 | 158 |
| Inventory days | 431 | 252 | 257 | 371 |
| Payable days | 166 | 131 | 111 | 216 |
| NWC days | 384 | 180 | 198 | 313 |
| Leverage | ||||
| Current ratio | 1.81 | 1.72 | 1.79 | 1.72 |
| Debt to EBITDA | 1.63 | 0.79 | 1.28 | 3.99 |
| Debt to equity | 0.43 | 0.29 | 0.29 | 0.48 |
| Interest coverage | 6.1 | 8.4 | 3.8 | 2.8 |
| Asset turnover | 0.68 | 0.89 | 0.75 | 0.53 |
| Return ratios | ||||
| Return on assets % | 8.3% | 13% | 8.5% | 5% |
| Return on capital employed % | 27.9% | 47.8% | 31.8% | 19.8% |
| Return on equity % | 17.7% | 29.1% | 16% | 9.5% |
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.