Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 10.6% | 11.7% | 11% | 10.6% | ||||
| 11.5% |
| 10.7% |
| 9.5% |
| 11.6% |
| EBITDA margin % | 4.9% | 4% | 4.7% | 5.1% | 5.6% | 5.1% | 3.8% | 5.9% |
| EBIT margin % | 4% | 2.8% | 3.6% | 4.3% | 4.9% | 4.4% | 3.1% | 5.1% |
| PAT margin % | 2.2% | 1.9% | 2.6% | 3.2% | 3.6% | 3.3% | 2.3% | 3.6% |
| Working capital | ||||||||
| Receivable days | 26 | 29 | 5 | 15 | 3 | 1 | 2 | 3 |
| Inventory days | 47 | 55 | 38 | 35 | 31 | 29 | 27 | 24 |
| Payable days | 43 | 0 | 48 | 46 | 37 | 38 | 39 | 42 |
| NWC days | 30 | 84 | -5 | 4 | -3 | -8 | -9 | -15 |
| Leverage | ||||||||
| Current ratio | 0.99 | 1.18 | 1.1 | 1.19 | 0.92 | 1 | 1.25 | 1.38 |
| Debt to EBITDA | 2.06 | 3.06 | 1.72 | 0.74 | 0.5 | 0.18 | 1.24 | 0.72 |
| Debt to equity | 0.59 | 0.54 | 0.34 | 0.16 | 0.16 | 0.05 | 0.22 | 0.18 |
| Interest coverage | 2.7 | 2.4 | 4.7 | 11.3 | 15.5 | 13.1 | 5.5 | 7.5 |
| Asset turnover | 2.28 | 1.82 | 2.13 | 2.41 | 3.17 | 3.02 | 2.64 | 2.5 |
| Return ratios | ||||||||
| Return on assets % | 4.9% | 3.5% | 5.5% | 7.7% | 11.4% | 9.9% | 6.2% | 9.1% |
| Return on capital employed % | 23.2% | 11.7% | 13.5% | 19.9% | 28% | 22.2% | 14.7% | 20.4% |
| Return on equity % | 12.5% | 8.5% | 10.6% | 13.4% | 19.9% | 15.7% | 10.9% | 15.7% |
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.