Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 47.2% | 42.7% | 44.2% | 45.2% | 48.3% | 49.9% | 47.6% |
| EBITDA margin % | 6.8% | 2.9% | 4% | 7.3% | 9.4% | 10.9% | 12.6% | 6.9% |
| EBIT margin % | 4.8% | 0.5% | 2% | 5.7% | 7.7% | 9.3% | 10.8% | 5% |
| PAT margin % | 1.8% | 2.3% | 2.1% | 3.1% | 4.1% | 7% | 7.3% | 3.4% |
| Working capital | ||||||||
| Receivable days | 169 | — | 193 | 206 | 116 | 130 | 154 | 191 |
| Inventory days | 192 | — | 353 | 313 | 352 | 393 | 431 | 375 |
| Payable days | — | — | 133 | 85 | 116 | 132 | 129 | 164 |
| NWC days | — | — | 414 | 435 | 352 | 390 | 456 | 401 |
| Leverage | ||||||||
| Current ratio | 2.08 | — | 2.8 | 2.9 | 2.39 | 2.47 | 2.66 | 2 |
| Debt to EBITDA | 1.69 | — | 0.7 | 0.92 | 1.04 | 0.14 | 0.45 | 1.02 |
| Debt to equity | 0.18 | — | 0.04 | 0.13 | 0.16 | 0.02 | 0.08 | 0.11 |
| Interest coverage | 3.2 | 1.6 | 3.4 | 5.2 | 7 | 10.8 | 8.5 | 5.4 |
| Asset turnover | 0.7 | 5.03 | 0.68 | 0.85 | 0.78 | 0.75 | 0.69 | 0.62 |
| Return ratios | ||||||||
| Return on assets % | 1.3% | 11.4% | 1.4% | 2.6% | 3.2% | 5.2% | 5% | 2.1% |
| Return on capital employed % | 6.3% | — | 3.6% | 7% | 9.5% | 12.5% | 12.2% | 6% |
| Return on equity % | 2.9% | — | 3.4% | 5.8% | 6.6% | 10.7% | 10.3% | 5.1% |
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.