Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 27.9% | 19.2% | 18.2% | 21.9% | 23.6% | 26% | 26.4% |
| EBITDA margin % | 12.2% | 11.4% | -2.6% | -7.3% | 4.9% | 6.3% | 8.8% | 10.4% |
| EBIT margin % | 11.4% | 10.4% | -4.8% | -10.5% | 2% | 3.1% | 6.5% | 8.4% |
| PAT margin % | 8% | 8.4% | -3.5% | -8.5% | 0.9% | 2.8% | 5.4% | 6.8% |
| Working capital | ||||||||
| Receivable days | — | — | 29 | 26 | 21 | 36 | 33 | 32 |
| Inventory days | — | — | 78 | 76 | 53 | 53 | 52 | 49 |
| Payable days | — | — | 71 | 63 | 44 | 38 | 46 | 50 |
| NWC days | — | — | 36 | 39 | 31 | 51 | 39 | 31 |
| Leverage | ||||||||
| Current ratio | — | — | 1.51 | 1.05 | 1.47 | 2.29 | 2.18 | 2.3 |
| Debt to EBITDA | — | — | — | — | 1.54 | 0 | 0 | 0 |
| Debt to equity | — | — | 0.05 | 0.3 | 0.11 | 0 | 0 | 0 |
| Interest coverage | 95.2 | 66.1 | -14 | -7.1 | 1.9 | 11.9 | 93.8 | 138.7 |
| Asset turnover | — | — | 0.78 | 0.7 | 1.08 | 1.02 | 1.2 | 1.32 |
| Return ratios | ||||||||
| Return on assets % | — | — | -2.7% | -5.9% | 1% | 2.9% | 6.4% | 9% |
| Return on capital employed % | — | — | -4% | -8.9% | 3.6% | 5.1% | 10.9% | 15.6% |
| Return on equity % | — | — | -3.5% | -9.3% | 1.3% | 3.4% | 8% | 11.4% |
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.