Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 18.7% | 15.5% | 14.7% | 16.6% | 16.1% | 16.5% |
| EBITDA margin % | 5.5% | -1.6% | 5.4% | 4.6% | 4.9% | 5.7% | 5.9% | 6.9% |
| EBIT margin % | 5% | -2.4% | 4.5% | 3.9% | 4.2% | 4.9% | 5.2% | 6.2% |
| PAT margin % | 1.6% | -6% | 1.3% | 1.8% | 1.9% | 1.5% | 1.5% | 2.2% |
| Working capital | ||||||||
| Receivable days | — | 32 | 51 | 51 | 38 | 36 | 31 | 19 |
| Inventory days | — | 96 | 165 | 83 | 88 | 122 | 129 | 149 |
| Payable days | 17 | 18 | 71 | 43 | 49 | 54 | 45 | 41 |
| NWC days | — | 110 | 145 | 91 | 77 | 104 | 115 | 127 |
| Leverage | ||||||||
| Current ratio | — | 1.19 | 1.37 | 1.43 | 1.41 | 1.38 | 1.73 | 1.64 |
| Debt to EBITDA | 4.96 | — | 6.63 | 4.66 | 4.24 | 3.96 | 3.22 | 2.98 |
| Debt to equity | 1.29 | 1.65 | 1.59 | 1.44 | 1.27 | 1.24 | 0.75 | 0.77 |
| Interest coverage | 1.8 | -0.5 | 1.4 | 1.8 | 1.8 | 1.5 | 1.7 | 2.1 |
| Asset turnover | 1.84 | 1.8 | 1.32 | 2.13 | 2.04 | 1.88 | 1.79 | 1.69 |
| Return ratios | ||||||||
| Return on assets % | 2.9% | -10.8% | 1.7% | 3.7% | 3.9% | 2.9% | 2.7% | 3.7% |
| Return on capital employed % | 14.5% | -4.8% | 16.3% | 19.5% | 20.8% | 22.5% | 21.9% | 21% |
| Return on equity % | 7.6% | -33.2% | 5.9% | 11.8% | 11.7% | 8.5% | 5.8% | 8.1% |
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.