Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.4% | 33.1% | 34.5% | 30.6% | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.4% | 33.1% | 34.5% | 30.6% | ||||
| 31.4% |
| 29.7% |
| 31.8% |
| 31.7% |
| EBITDA margin % | 5.2% | 4.2% | 6.6% | 4.8% | 6.6% | 5.6% | 6.4% | 3.4% |
| EBIT margin % | 4.6% | 2.8% | 5.1% | 3.6% | 5.2% | 3.2% | 3.4% | 0.2% |
| PAT margin % | 2.5% | 0% | 4% | 3.2% | 4.3% | 2.8% | 2.8% | -1.7% |
| Working capital | ||||||||
| Receivable days | 172 | 186 | 121 | 86 | 100 | 91 | 97 | 93 |
| Inventory days | 64 | 76 | 118 | 104 | 103 | 85 | 79 | 64 |
| Payable days | 2 | 99 | 115 | 134 | 153 | 63 | 50 | 56 |
| NWC days | 234 | 163 | 124 | 57 | 50 | 114 | 127 | 101 |
| Leverage | ||||||||
| Current ratio | 1.05 | 1.12 | 1.17 | 1.21 | 1.32 | 1.21 | 1.29 | 1.11 |
| Debt to EBITDA | 4.53 | 3.56 | 1.54 | 0.11 | 0 | 0 | 0 | 0 |
| Debt to equity | 1.46 | 0.53 | 0.29 | 0.01 | 0 | 0 | 0 | 0 |
| Interest coverage | 3.2 | 1.1 | 4 | 5.1 | 7.7 | 3.7 | 3.1 | 1.3 |
| Asset turnover | 1.29 | 1.09 | 1.08 | 1.19 | 1.15 | 1.21 | 1.19 | 1.08 |
| Return ratios | ||||||||
| Return on assets % | 3.2% | -0% | 4.3% | 3.8% | 4.9% | 3.4% | 3.3% | -1.9% |
| Return on capital employed % | 31.1% | 12.8% | 18.1% | 14.9% | 18.2% | 12.5% | 12.5% | 4.1% |
| Return on equity % | 15.5% | -0% | 11.4% | 8.6% | 11.8% | 9.1% | 8.6% | -5.3% |
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.