Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 19.8% | 20% | 12.5% | 13.1% | 13% | 14.5% |
| EBITDA margin % | 3.8% | 4.4% | 4.3% | 4.3% | 4.3% | 4.3% |
| EBIT margin % | 2.4% | 3.1% | 2.9% | 3.3% | 3.5% | 3.1% |
| PAT margin % | 1.5% | 1.8% | 1.6% | 1.8% | 2.1% | 1.4% |
| Working capital | ||||||
| Receivable days | 145 | 139 | 142 | 141 | 112 | 139 |
| Inventory days | 47 | 37 | 38 | 47 | 28 | 42 |
| Payable days | 200 | 164 | 146 | 137 | 89 | 115 |
| NWC days | -9 | 11 | 34 | 51 | 50 | 66 |
| Leverage | ||||||
| Current ratio | 1.1 | 1.13 | 1.19 | 1.15 | 1.19 | 1.24 |
| Debt to EBITDA | 0.79 | 1.18 | 1.4 | 2.6 | 2.48 | 3.87 |
| Debt to equity | 0.19 | 0.39 | 0.41 | 0.73 | 0.93 | 1.05 |
| Interest coverage | 4.4 | 5 | 4 | 4.4 | 4.7 | 2.4 |
| Asset turnover | 1.55 | 1.77 | 1.73 | 1.62 | 2.18 | 1.58 |
| Return ratios | ||||||
| Return on assets % | 2.3% | 3.2% | 2.7% | 2.9% | 4.6% | 2.2% |
| Return on capital employed % | 15.2% | 23.3% | 19.4% | 23.4% | 30.4% | 17% |
| Return on equity % | 9.7% | 13.6% | 10.6% | 11.6% | 18.4% | 8.7% |
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.