Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 56.6% | 56.7% | 58.4% | 60.5% | 61.2% |
| EBITDA margin % | 8.5% | 9.1% | 12% | 14.4% | 10.7% |
| EBIT margin % | 4.7% | 4.9% | 8.3% | 10.8% | 5.2% |
| PAT margin % | 0.5% | 0.3% | 3.5% | 4.7% | 1.3% |
| Working capital | |||||
| Receivable days | — | 28 | 38 | 57 | 65 |
| Inventory days | — | 184 | 151 | 136 | 161 |
| Payable days | — | 151 | 144 | 153 | 182 |
| NWC days | — | 60 | 45 | 41 | 44 |
| Leverage | |||||
| Current ratio | — | 1.01 | 0.92 | 1.03 | 0.85 |
| Debt to EBITDA | — | 3.18 | 2.03 | 2.98 | 6.36 |
| Debt to equity | — | 2.38 | 1.71 | 1.45 | 2.25 |
| Interest coverage | 1.3 | 1 | 2.2 | 2.6 | 1.4 |
| Asset turnover | — | 1.59 | 1.65 | 1.06 | 0.78 |
| Return ratios | |||||
| Return on assets % | — | 0.5% | 5.8% | 4.9% | 1% |
| Return on capital employed % | — | 17.9% | 35.6% | 32.6% | 13.3% |
| Return on equity % | — | 2.5% | 24.8% | 15.7% | 4.2% |
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.