Standalone figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 8.1% | 14.9% | ||||
| 13.8% |
| 11.7% |
| 23.8% |
| 23.7% |
| EBITDA margin % | -12.7% | 6.7% | 5.7% | 11% | 5.7% | 3.5% | 9% | 7.6% |
| EBIT margin % | -12.7% | 6.6% | 5.3% | 10.7% | 5.4% | 3.1% | 8.4% | 6.9% |
| PAT margin % | -9.2% | 6.8% | 4.1% | 7.7% | 3.1% | 0.8% | 3.9% | 3.4% |
| Working capital | ||||||||
| Receivable days | — | — | 53 | 75 | 73 | 66 | 103 | 110 |
| Inventory days | — | — | 67 | 77 | 90 | 86 | 120 | 134 |
| Payable days | — | — | 72 | 82 | 63 | 83 | 82 | 81 |
| NWC days | — | — | 48 | 70 | 100 | 69 | 140 | 164 |
| Leverage | ||||||||
| Current ratio | — | — | 1.5 | 1.51 | 1.38 | 1.21 | 1.53 | 1.72 |
| Debt to EBITDA | — | — | 0.52 | 1.05 | 3.24 | 5.48 | 2.41 | 2.93 |
| Debt to equity | — | — | 0.21 | 0.42 | 0.78 | 0.94 | 0.56 | 0.43 |
| Interest coverage | — | 5.2 | 11.7 | 12 | 3.8 | 1.4 | 2.5 | 2.4 |
| Asset turnover | — | — | 2.44 | 1.6 | 1.62 | 1.55 | 1.17 | 1.01 |
| Return ratios | ||||||||
| Return on assets % | — | — | 10% | 12.3% | 5.1% | 1.2% | 4.6% | 3.4% |
| Return on capital employed % | — | — | 40% | 55% | 26.1% | 16.5% | 24.6% | 15.5% |
| Return on equity % | — | — | 28.6% | 27.9% | 13.1% | 3.7% | 10% | 6.5% |
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.