Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 28.9% | 32.6% | 38.1% | 20.4% | 20.9% | ||
| 24.6% |
| 25.7% |
| EBITDA margin % | 5.3% | 10.5% | 19.2% | 3.9% | 3.9% | 6.3% | 6.4% |
| EBIT margin % | 2.5% | 7.7% | 17.8% | 2.8% | 1.8% | 4.2% | 4.2% |
| PAT margin % | 0.7% | 5.4% | 13.5% | 1.7% | 0.1% | 2.1% | -1.8% |
| Working capital | |||||||
| Receivable days | — | 60 | 33 | 25 | 39 | 35 | 46 |
| Inventory days | — | 132 | 143 | 121 | 112 | 124 | 111 |
| Payable days | — | 11 | 7 | 10 | 10 | 10 | 9 |
| NWC days | — | 181 | 169 | 136 | 140 | 149 | 147 |
| Leverage | |||||||
| Current ratio | — | 1.58 | 2.05 | 1.46 | 1.19 | 1.29 | 1.29 |
| Debt to EBITDA | — | 2.8 | 0.89 | 7.76 | 8.88 | 5.01 | 4.98 |
| Debt to equity | — | 0.9 | 0.51 | 0.82 | 1.15 | 0.97 | 1 |
| Interest coverage | 1.6 | 5.9 | 27.6 | 4.9 | 1.1 | 2 | 2.3 |
| Asset turnover | — | 1.45 | 1.8 | 1.35 | 1.43 | 1.42 | 1.41 |
| Return ratios | |||||||
| Return on assets % | — | 7.8% | 24.3% | 2.2% | 0.1% | 3% | -2.5% |
| Return on capital employed % | — | 22.8% | 61.1% | 7.8% | 6.4% | 12.2% | 10.5% |
| Return on equity % | — | 16.6% | 40% | 4.4% | 0.3% | 6.6% | -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.