Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 15.6% | 17.7% | 19.5% | 22.5% |
| EBITDA margin % | 3.7% | 6.6% | 9.7% | 10.9% |
| EBIT margin % | 2.8% | 5.6% | 8.7% | 8.6% |
| PAT margin % | 4.4% | 3.7% | 5.7% | 5.7% |
| Working capital | ||||
| Receivable days | 119 | 96 | 87 | 120 |
| Inventory days | 26 | 49 | 48 | 41 |
| Payable days | 29 | 42 | 36 | 89 |
| NWC days | 116 | 103 | 99 | 72 |
| Leverage | ||||
| Current ratio | 1.79 | 1.79 | 2.16 | 1.5 |
| Debt to EBITDA | 4.75 | 4 | 1.32 | 2.83 |
| Debt to equity | 0.52 | 0.63 | 0.33 | 0.73 |
| Interest coverage | 6.8 | 5.8 | 6.9 | 4.9 |
| Asset turnover | 1.57 | 1.18 | 1.53 | 1.02 |
| Return ratios | ||||
| Return on assets % | 6.9% | 4.4% | 8.7% | 5.8% |
| Return on capital employed % | 17.8% | 15.6% | 26.3% | 20.6% |
| Return on equity % | 13% | 8.8% | 14.9% | 13.6% |
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.