Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 10.4% | 13.2% | 16.2% | 20.9% | 18.5% | 17.4% |
| EBITDA margin % | 3.2% | 4.5% | 5.6% | 8.6% | 7.2% | 9.7% |
| EBIT margin % | 2.6% | 4.1% | 5% | 7.9% | 6.6% | 9.3% |
| PAT margin % | 1.4% | 2% | 3.6% | 4.9% | 5.2% | 7.2% |
| Working capital | ||||||
| Receivable days | 85 | 108 | 108 | 175 | 133 | 117 |
| Inventory days | 95 | 63 | 69 | 86 | 168 | 156 |
| Payable days | 113 | 94 | 78 | 154 | 96 | 57 |
| NWC days | 67 | 77 | 99 | 106 | 206 | 216 |
| Leverage | ||||||
| Current ratio | 1.45 | 1.33 | 1.38 | 1.25 | 1.21 | 1.23 |
| Debt to EBITDA | 2.19 | 1.23 | 0 | 1.51 | 7.8 | 7.55 |
| Debt to equity | 0.41 | 0.35 | 0 | 0.56 | 2.4 | 2.93 |
| Interest coverage | 2.9 | 4.5 | 5 | 3.2 | 3.3 | 3.8 |
| Asset turnover | 1.7 | 1.73 | 1.64 | 1.04 | 0.9 | 0.85 |
| Return ratios | ||||||
| Return on assets % | 2.4% | 3.5% | 5.9% | 5.1% | 4.7% | 6.1% |
| Return on capital employed % | 14.3% | 24.9% | 32.1% | 34.1% | 32.3% | 41.5% |
| Return on equity % | 8.2% | 13% | 19.5% | 21.3% | 22.2% | 28.9% |
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.