Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 76.5% | 76.2% | 75.5% | 70.9% |
| EBITDA margin % | 29.4% | 28.4% | ||
Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 76.5% | 76.2% | 75.5% | 70.9% |
| EBITDA margin % | 29.4% | 28.4% | ||
| 18.1% |
| 13.1% |
| EBIT margin % | 24.9% | 23.9% | 12.6% | 7% |
| PAT margin % | 16.7% | 16.1% | 6.3% | 0.6% |
| Working capital | ||||
| Receivable days | 72 | 99 | 129 | 146 |
| Inventory days | 497 | 475 | 554 | 446 |
| Payable days | 230 | 197 | 228 | 198 |
| NWC days | 339 | 377 | 456 | 393 |
| Leverage | ||||
| Current ratio | 1.51 | 1.32 | 1.36 | 1.37 |
| Debt to EBITDA | 1.17 | 1.7 | 2.75 | 4.01 |
| Debt to equity | 0.33 | 0.49 | 0.46 | 0.47 |
| Interest coverage | 7.1 | 6.4 | 2.9 | 1.6 |
| Asset turnover | 0.6 | 0.58 | 0.53 | 0.52 |
| Return ratios | ||||
| Return on assets % | 9.9% | 9.4% | 3.4% | 0.3% |
| Return on capital employed % | 22% | 23.6% | 11.2% | 6.4% |
| Return on equity % | 15.9% | 16.5% | 5.8% | 0.6% |
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.