Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 33.4% | 31.8% | 36.2% | 36.4% | 31.1% | 31% | 29.4% | 30.2% |
| EBITDA margin % | 5.5% | 5.9% | 11.5% | 16% | 12.2% | 9.8% | 8.7% | 9.3% |
| EBIT margin % | 4% | 1.1% | 5.4% | 12.1% | 9% | 6.3% | 5% | 5.3% |
| PAT margin % | 2.8% | -1.2% | 2.9% | 8.5% | 7.1% | 5.5% | 4.3% | 3.9% |
| Working capital | ||||||||
| Receivable days | — | 60 | 57 | 48 | 45 | 46 | 50 | 54 |
| Inventory days | — | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Payable days | — | 66 | 90 | 76 | 56 | 56 | 64 | 63 |
| NWC days | — | -5 | -31 | -28 | -11 | -9 | -13 | -8 |
| Leverage | ||||||||
| Current ratio | — | 0.94 | 1.09 | 1.09 | 1.16 | 1.35 | 1.32 | 1.45 |
| Debt to EBITDA | — | 0.28 | 0.38 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | 0.09 | 0.21 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 9.4 | 1.5 | 5.9 | 23.4 | 29.6 | 20.9 | 12.7 | 9.6 |
| Asset turnover | — | 2.03 | 1.79 | 2.17 | 2.22 | 2.05 | 1.89 | 1.75 |
| Return ratios | ||||||||
| Return on assets % | — | -2.5% | 5.2% | 18.5% | 15.7% | 11.2% | 8.1% | 6.8% |
| Return on capital employed % | — | 5.8% | 21.6% | 56.2% | 40.9% | 26.6% | 21% | 19.5% |
| Return on equity % | — | -6.6% | 14.2% | 39.4% | 29.1% | 20.1% | 15.1% | 13.1% |
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.