Standalone figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 66.2% | 58.6% | 66.7% | 69.6% | 69.5% | 56.6% | 56.5% | 51.2% |
| EBITDA margin % | 9.5% | 0.2% | 4.5% | 7.2% | 7.1% | 3.3% | 5.4% | 3.8% |
| EBIT margin % | 8.6% | -1.1% | 3.2% | 5.7% | 5.6% | 1.5% | 3.9% | 2.5% |
| PAT margin % | 4.7% | 0.2% | 2.6% | 6.2% | 8.3% | 3.6% | 4.4% | 3.1% |
| Working capital | ||||||||
| Receivable days | — | — | — | — | 29 | 30 | 36 | 44 |
| Inventory days | — | — | — | — | 278 | 205 | 306 | 272 |
| Payable days | — | — | — | — | 48 | 27 | 30 | 26 |
| NWC days | — | — | — | — | 258 | 209 | 312 | 289 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | 2.28 | 2.29 | 1.75 | 1.78 |
| Debt to EBITDA | — | — | — | — | 0.64 | 2.16 | 3.76 | 4.83 |
| Debt to equity | — | — | — | — | 0.08 | 0.12 | 0.36 | 0.39 |
| Interest coverage | 6 | 1.1 | 3.2 | 6.3 | 13.5 | 4.7 | 4.8 | 2.3 |
| Asset turnover | — | — | — | — | 1.22 | 1.19 | 1.08 | 1.26 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | — | 10.1% | 4.3% | 4.8% | 3.9% |
| Return on capital employed % | — | — | — | — | 12.6% | 8.7% | 10.5% | 8.2% |
| Return on equity % | — | — | — | — | 14.1% | 5.9% | 7.8% | 6.5% |
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.