Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 35.9% | 49.2% | 51% | 47.2% | 26.5% |
| EBITDA margin % | 5.3% | 15.2% | 17% | 17.5% | 14% |
| EBIT margin % | 4.8% | 14.5% | 16.4% | 17.2% | 13.7% |
| PAT margin % | 1.4% | 8.2% | 9.5% | 8.5% | 7.3% |
| Working capital | |||||
| Receivable days | 280 | 258 | 215 | 253 | 296 |
| Inventory days | 39 | 49 | 48 | 45 | 32 |
| Payable days | — | — | — | — | 313 |
| NWC days | — | — | — | — | 14 |
| Leverage | |||||
| Current ratio | 1.24 | 1.17 | 1.37 | 1.52 | 1.98 |
| Debt to EBITDA | 4.71 | 1.94 | 1.38 | 1.7 | 1.67 |
| Debt to equity | 1.33 | 1.18 | 0.63 | 0.58 | 0.24 |
| Interest coverage | 1.5 | 2.9 | 4 | 3.1 | 2.8 |
| Asset turnover | 0.99 | 0.74 | 0.82 | 0.68 | 0.5 |
| Return ratios | |||||
| Return on assets % | 1.4% | 6% | 7.8% | 5.7% | 3.7% |
| Return on capital employed % | 21.9% | 54.2% | 56.7% | 40.5% | 21% |
| Return on equity % | 7.4% | 32.7% | 25.7% | 16.6% | 7.4% |
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.