Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 75.3% | 75.5% | 75.1% | 75.5% | 78.7% | 79.9% | 80.3% | 79.4% |
| EBITDA margin % | 6.9% | 9.6% | 5.6% | 13.5% | 18.8% | 17.7% | 19.7% | 21% |
| EBIT margin % | -3.9% | -2.2% | -7.1% | 4.6% | 12% | 11.7% | 13.4% | 15.2% |
| PAT margin % | 8.1% | 8% | -9.2% | 8.1% | 11.3% | 7.7% | 267.6% | 10.2% |
| Working capital | ||||||||
| Receivable days | — | — | 21 | 20 | 26 | 23 | 22 | 25 |
| Inventory days | — | — | 38 | 32 | 38 | 39 | 33 | 23 |
| Payable days | — | — | 270 | 173 | 228 | 200 | 198 | 198 |
| NWC days | — | — | -210 | -122 | -163 | -139 | -143 | -150 |
| Leverage | ||||||||
| Current ratio | — | — | 0.6 | 0.58 | 0.78 | 3.82 | 3.83 | 2.39 |
| Debt to EBITDA | — | — | 4.01 | 1.31 | 1.18 | 1.07 | 0.83 | 0.57 |
| Debt to equity | — | — | 0.06 | 0.07 | 0.11 | 0.12 | 0.11 | 0.07 |
| Interest coverage | 5.6 | 2.9 | -0.9 | 3 | 4.5 | 3.7 | 70.7 | 6.3 |
| Asset turnover | — | — | 0.21 | 0.3 | 0.37 | 0.45 | 0.47 | 0.41 |
| Return ratios | ||||||||
| Return on assets % | — | — | -1.9% | 2.4% | 4.2% | 3.5% | 125.1% | 4.2% |
| Return on capital employed % | — | — | -1% | 4% | 6.6% | 7.4% | 140.4% | 10.8% |
| Return on equity % | — | — | -2.4% | 3.1% | 5.5% | 4.8% | 185.9% | 6.1% |
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.