Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 57.7% | 52.9% | 49.3% | 46.7% | 53% | 52.9% | 52.8% | 57.7% |
| EBITDA margin % | 8.1% | 2.3% | 8.7% | 8.2% | 9.5% | 8% | 5.9% | 7.5% |
| EBIT margin % | 6.9% | 1% | 7.5% | 7.5% | 8.8% | 7.2% | 4.9% | 6.5% |
| PAT margin % | 1.9% | -3.9% | 0.3% | 5.8% | 4.8% | 2.9% | 3.1% | 1.4% |
| Working capital | ||||||||
| Receivable days | — | — | 199 | 119 | 148 | 121 | 138 | 116 |
| Inventory days | — | — | 301 | 188 | 231 | 262 | 69 | 76 |
| Payable days | — | — | 156 | 116 | 147 | 144 | 150 | 164 |
| NWC days | — | — | 345 | 191 | 232 | 239 | 57 | 28 |
| Leverage | ||||||||
| Current ratio | — | — | 1.22 | 1.36 | 1.33 | 1.3 | 1.31 | 1.21 |
| Debt to EBITDA | — | — | 5.24 | 3.56 | 2.92 | 3.14 | 4.33 | 2.77 |
| Debt to equity | — | — | 0.65 | 0.56 | 0.47 | 0.45 | 0.41 | 0.38 |
| Interest coverage | 1.5 | 0.4 | 1.8 | 2 | 2.6 | 2 | 1.7 | 2.5 |
| Asset turnover | — | — | 0.49 | 0.78 | 0.75 | 0.78 | 0.69 | 0.74 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.2% | 4.5% | 3.6% | 2.2% | 2.2% | 1% |
| Return on capital employed % | — | — | 11.1% | 12.5% | 15.6% | 12.4% | 9.5% | 12.2% |
| Return on equity % | — | — | 0.5% | 11.1% | 8.1% | 5.1% | 5% | 2.5% |
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.