Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 99% | 92.6% | 92.3% | 94.6% |
| EBITDA margin % | 25.7% | 26.6% | 26% | 25.4% |
| EBIT margin % | 10.1% | 10.7% | 9.4% | 9.4% |
| PAT margin % | 2% | 2.5% | 1.5% | 2.6% |
| Working capital | ||||
| Receivable days | 54 | 53 | 60 | 63 |
| Inventory days | 891 | 175 | 136 | 132 |
| Payable days | 608 | 82 | 121 | 127 |
| NWC days | 336 | 146 | 74 | 68 |
| Leverage | ||||
| Current ratio | 0.82 | 0.85 | 0.98 | 0.99 |
| Debt to EBITDA | 1.61 | 1.44 | 1.77 | 1.68 |
| Debt to equity | 1.48 | 1.47 | 1.95 | 2.39 |
| Interest coverage | 1.4 | 1.4 | 1.2 | 1.4 |
| Asset turnover | 0.72 | 0.86 | 0.81 | 0.86 |
| Return ratios | ||||
| Return on assets % | 1.5% | 2.2% | 1.2% | 2.2% |
| Return on capital employed % | 10.8% | 13.7% | 12.8% | 15.4% |
| Return on equity % | 7.3% | 9.8% | 6.4% | 14.5% |
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.