Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 24.6% | 19.4% | 18.8% | 20.6% | 18% | 24.3% |
| EBITDA margin % | 12.6% | 12.8% | 13.4% | 15.6% | 14.1% | 18.8% |
| EBIT margin % | 12.3% | 12.5% | 13.2% | 15.5% | 14% | 18.7% |
| PAT margin % | 6.9% | 6.6% | 6.9% | 9% | 10.1% | 12.3% |
| Working capital | ||||||
| Receivable days | — | — | 177 | 48 | 11 | 59 |
| Inventory days | — | — | 446 | 603 | 598 | 1,232 |
| Payable days | — | — | 14 | 9 | 2 | 6 |
| NWC days | — | — | 609 | 641 | 607 | 1,285 |
| Leverage | ||||||
| Current ratio | — | — | 2.84 | 6.94 | 11.03 | 5.73 |
| Debt to EBITDA | — | — | 4.11 | 1.24 | 0 | 2.29 |
| Debt to equity | — | — | 0.61 | 0.13 | 0 | 0.15 |
| Interest coverage | 4.1 | 3.4 | 2.7 | 4.4 | 34.7 | 11.2 |
| Asset turnover | — | — | 0.65 | 0.55 | 0.69 | 0.29 |
| Return ratios | ||||||
| Return on assets % | — | — | 4.5% | 5% | 7% | 3.6% |
| Return on capital employed % | — | — | 15.1% | 12.4% | 11.1% | 9% |
| Return on equity % | — | — | 7.6% | 5.8% | 7.7% | 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.