Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 4.3% | 6% | 7.4% | 8.4% |
| EBITDA margin % | 3.2% | 4.4% | ||
| 5.7% |
| 6.9% |
| EBIT margin % | 3% | 4.1% | 5.4% | 6.7% |
| PAT margin % | 1.6% | 2.3% | 3.8% | 4.5% |
| Working capital | ||||
| Receivable days | 21 | 21 | 40 | 39 |
| Inventory days | 28 | 59 | 41 | 41 |
| Payable days | 0 | 1 | 3 | 7 |
| NWC days | 49 | 80 | 78 | 73 |
| Leverage | ||||
| Current ratio | 1.29 | 1.47 | 1.49 | 1.68 |
| Debt to EBITDA | 4.03 | 4.01 | 3.11 | 2 |
| Debt to equity | 1.49 | 1.27 | 0.78 | 0.58 |
| Interest coverage | 3.3 | 3.6 | 4.7 | 5.8 |
| Asset turnover | 4.58 | 2.98 | 2.4 | 2.53 |
| Return ratios | ||||
| Return on assets % | 7.4% | 6.9% | 9.1% | 11.4% |
| Return on capital employed % | 30.6% | 38.1% | 38.5% | 37.5% |
| Return on equity % | 19% | 16.6% | 16.7% | 19.1% |
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.