Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 20.1% | 32.2% | 38.5% | 36.9% |
| EBITDA margin % | 12.5% | 11.9% | ||
| 16.3% |
| 16.5% |
| EBIT margin % | 10.4% | 9.7% | 12.1% | 11.2% |
| PAT margin % | 6.1% | 12.8% | 11% | 12.2% |
| Working capital | ||||
| Receivable days | 81 | 139 | — | — |
| Inventory days | 140 | 254 | 270 | 310 |
| Payable days | 29 | 102 | — | — |
| NWC days | 192 | 291 | — | — |
| Leverage | ||||
| Current ratio | — | 3.76 | 7.76 | 3.34 |
| Debt to EBITDA | 2.79 | 1.69 | — | — |
| Debt to equity | 0.78 | 0.14 | — | — |
| Interest coverage | 2.8 | 10 | 5.7 | 6.7 |
| Asset turnover | 0.93 | 0.52 | 0.43 | 0.42 |
| Return ratios | ||||
| Return on assets % | 5.7% | 6.7% | 4.7% | 5.1% |
| Return on capital employed % | — | 11.4% | 8.4% | 7.8% |
| Return on equity % | 13.7% | 8.9% | — | — |
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.