Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | 69.6% | 70.6% | 74.8% | 70.5% |
| EBITDA margin % | 6.8% | 7.4% | 4.1% | 5.3% | 7.6% | 7.2% | 11.5% | 9% |
| EBIT margin % | 3.4% | 4.8% | 1.2% | 2.7% | 5.9% | 5.4% | 8.6% | 5.8% |
| PAT margin % | 1.4% | 4.2% | -7.7% | 0.8% | 4.5% | 6% | 4.7% | 2.6% |
| Working capital | ||||||||
| Receivable days | 91 | 73 | 68 | 70 | 55 | 58 | 71 | 89 |
| Inventory days | 72 | 97 | 98 | 96 | 271 | 287 | 399 | 327 |
| Payable days | — | — | — | — | 155 | 166 | 224 | 208 |
| NWC days | — | — | — | — | 171 | 179 | 246 | 209 |
| Leverage | ||||||||
| Current ratio | 1.77 | 1.78 | 1.86 | 1.87 | 1.8 | 1.64 | 1.7 | 1.7 |
| Debt to EBITDA | 2.19 | 1.72 | 3.66 | 2.93 | 1.3 | 1.78 | 1.68 | 3.01 |
| Debt to equity | 0.27 | 0.24 | 0.26 | 0.25 | 0.2 | 0.24 | 0.29 | 0.35 |
| Interest coverage | 1.5 | 2.7 | 1 | 1.3 | 3.1 | 7.2 | 6.2 | 2.5 |
| Asset turnover | 0.95 | 0.99 | 0.92 | 0.86 | 1.15 | 1.07 | 0.84 | 0.74 |
| Return ratios | ||||||||
| Return on assets % | 1.4% | 4.2% | -7.1% | 0.7% | 5.2% | 6.5% | 3.9% | 1.9% |
| Return on capital employed % | 6.2% | 12.9% | 5.1% | 5.9% | 14.1% | 18.3% | 14.5% | 8.8% |
| Return on equity % | 2.6% | 8% | -13.3% | 1.3% | 9.5% | 11.5% | 7% | 3.4% |
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.