Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 42.9% | ||||
| 27.6% |
| 22.2% |
| 24.4% |
| 24.8% |
| EBITDA margin % | 31.2% | 1.9% | 0.2% | 5.1% | 5.3% | 4.8% | 4.2% | 4.5% |
| EBIT margin % | 30.7% | 1.4% | -0% | 5% | 5.1% | 4.7% | 4% | 4.3% |
| PAT margin % | 23.8% | 1.4% | -0.8% | 4% | 3.6% | 3.6% | 3.9% | 4.5% |
| Working capital | ||||||||
| Receivable days | — | — | — | 121 | 107 | 122 | 194 | 97 |
| Inventory days | — | — | — | 40 | 19 | 13 | 12 | 17 |
| Payable days | — | — | — | 83 | 96 | 99 | 153 | 44 |
| NWC days | — | — | — | 78 | 30 | 36 | 53 | 70 |
| Leverage | ||||||||
| Current ratio | — | — | — | 3.13 | 2.71 | 2.19 | 1.58 | 2.86 |
| Debt to EBITDA | — | — | — | 1.78 | 0.45 | 1.12 | 3.09 | 1.08 |
| Debt to equity | — | — | — | 0.11 | 0.03 | 0.08 | 0.18 | 0.06 |
| Interest coverage | 42.4 | 5.3 | 0.1 | 14.2 | 10.6 | 13 | 7.4 | 7.9 |
| Asset turnover | — | — | — | 0.91 | 0.96 | 1.04 | 0.83 | 1 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 3.6% | 3.5% | 3.7% | 3.3% | 4.5% |
| Return on capital employed % | — | — | — | 6% | 6.8% | 7.9% | 9.1% | 8% |
| Return on equity % | — | — | — | 4.7% | 4.5% | 5.3% | 5.4% | 5.5% |
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.