Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 73.5% | 68.8% | 62.6% | 77.3% | 69.4% | 68.2% | 64.6% |
| EBITDA margin % | 9.8% | 10.5% | 12.7% | 11% | 13.1% | 10.9% | 10.9% | 7.2% |
| EBIT margin % | 5.6% | 6.9% | 8.8% | 8% | 9.1% | 8.2% | 8.2% | 4.8% |
| PAT margin % | 2.2% | 2.7% | 2.4% | -2.5% | 3.3% | 4.3% | 3.9% | 2.3% |
| Working capital | ||||||||
| Receivable days | — | — | 40 | 26 | 27 | 26 | 33 | 41 |
| Inventory days | — | — | 137 | 113 | 342 | 167 | 169 | 143 |
| Payable days | — | — | 139 | 71 | 177 | 91 | 82 | 100 |
| NWC days | — | — | 38 | 67 | 193 | 101 | 120 | 84 |
| Leverage | ||||||||
| Current ratio | — | — | 1 | 1.08 | 1.04 | 1.14 | 1.27 | 1.16 |
| Debt to EBITDA | — | — | 5.49 | 3.85 | 2.56 | 1.87 | 1.46 | 1.92 |
| Debt to equity | — | — | 1.01 | 0.84 | 0.63 | 0.46 | 0.3 | 0.25 |
| Interest coverage | 1.5 | 1.6 | 1.6 | 1.7 | 2 | 2.9 | 3.2 | 2.7 |
| Asset turnover | — | — | 0.57 | 0.86 | 0.85 | 1.13 | 1.05 | 1.08 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.4% | -2.1% | 2.8% | 4.8% | 4.1% | 2.5% |
| Return on capital employed % | — | — | 7.6% | 10.2% | 12.3% | 15.6% | 12.9% | 8.5% |
| Return on equity % | — | — | 3.5% | -4.9% | 6.2% | 9.6% | 7.3% | 4.3% |
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.