Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 23.9% | 18.8% | 18.4% | 17.1% | 15.9% | 17% | 15.7% | 16.3% |
| EBITDA margin % | 2.7% | 3.6% | 6.6% | 7% | 5% | 6.5% | 4.9% | 4.4% |
| EBIT margin % | 0.3% | 1.2% | 4.8% | 5.7% | 3.7% | 5.1% | 3.8% | 3.4% |
| PAT margin % | 1.4% | 0.3% | 5.8% | 4.5% | 3% | 4.1% | 3.3% | 2.8% |
| Working capital | ||||||||
| Receivable days | 63 | 69 | 79 | 73 | 63 | 67 | 60 | 67 |
| Inventory days | 96 | 92 | 72 | 65 | 71 | 68 | 80 | 79 |
| Payable days | — | — | — | — | 107 | 113 | 117 | 106 |
| NWC days | — | — | — | — | 26 | 21 | 23 | 40 |
| Leverage | ||||||||
| Current ratio | 1.26 | 1.09 | 1.27 | 1.37 | 1.47 | 1.59 | 1.55 | 1.69 |
| Debt to EBITDA | 5.33 | 1.77 | 0.24 | — | 0 | 0 | 0 | 0 |
| Debt to equity | 0.62 | 0.39 | 0.09 | — | 0 | 0 | 0 | 0 |
| Interest coverage | 0.4 | 1.4 | 12.7 | 43.8 | 39 | 49.9 | 41.7 | 29.7 |
| Asset turnover | 1.57 | 1.56 | 1.86 | 2.14 | 2.08 | 1.9 | 1.82 | 1.83 |
| Return ratios | ||||||||
| Return on assets % | 2.1% | 0.4% | 10.7% | 9.7% | 6.1% | 7.8% | 6% | 5.1% |
| Return on capital employed % | 1.7% | 7.2% | 26.9% | 34.6% | 20.3% | 24.7% | 17.9% | 14.5% |
| Return on equity % | 5.8% | 1.5% | 30.9% | 25.5% | 14.9% | 17.5% | 13.7% | 10.5% |
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.