Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 22% | 17.3% | 19.7% | 43.5% |
| EBITDA margin % | 4.7% | 5.4% | 11% | 12.1% |
| EBIT margin % | 3.4% | 4.3% | 10.6% | 11.4% |
| PAT margin % | 2% | 2.3% | 6.2% | 7.6% |
| Working capital | ||||
| Receivable days | — | 34 | 56 | 75 |
| Inventory days | — | 59 | 72 | 115 |
| Payable days | — | 22 | 29 | 74 |
| NWC days | — | 71 | 99 | 116 |
| Leverage | ||||
| Current ratio | — | 1.45 | 1.26 | 1.52 |
| Debt to EBITDA | — | 3.02 | 3.26 | 1.87 |
| Debt to equity | — | 1.01 | 1.17 | 0.54 |
| Interest coverage | 2.3 | 3.3 | 4.4 | 5.2 |
| Asset turnover | — | 2.3 | 1.31 | 0.98 |
| Return ratios | ||||
| Return on assets % | — | 5.4% | 8.1% | 7.5% |
| Return on capital employed % | — | 20.1% | 48.6% | 32% |
| Return on equity % | — | 14.4% | 20.3% | 18.2% |
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.