Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 8.9% | 8.2% | 13.9% | 12.1% |
| EBITDA margin % | 4.4% | 3.5% | 7.1% | 7.7% |
| EBIT margin % | 2.4% | 2% | 5% | 5.8% |
| PAT margin % | 0.8% | 0.7% | 2.9% | 3.6% |
| Working capital | ||||
| Receivable days | 40 | 40 | 59 | 42 |
| Inventory days | 9 | 11 | 31 | 41 |
| Payable days | 6 | 10 | 13 | 12 |
| NWC days | 43 | 41 | 77 | 71 |
| Leverage | ||||
| Current ratio | 1.52 | 1.64 | 1.64 | 2.1 |
| Debt to EBITDA | 3.99 | 4.01 | 2.76 | 2.01 |
| Debt to equity | 1.79 | 1.58 | 1.22 | 0.8 |
| Interest coverage | 1.9 | 2.4 | 3.2 | 4 |
| Asset turnover | 3.3 | 3.74 | 2.45 | 2.5 |
| Return ratios | ||||
| Return on assets % | 2.8% | 2.7% | 7.2% | 8.9% |
| Return on capital employed % | 13% | 14.8% | 19.8% | 23.9% |
| Return on equity % | 8.6% | 8.3% | 18.2% | 18.3% |
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.