Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 41% | 41.5% | ||||
| 39.9% |
| 30.1% |
| 34.6% |
| 32.3% |
| EBITDA margin % | 0.2% | 11.1% | 3.2% | 4.7% | -1% | 2.2% | 8.5% | 12.6% |
| EBIT margin % | -1.2% | 8.8% | 1% | 2.8% | -3.1% | 1% | 7.7% | 11.9% |
| PAT margin % | 1.1% | 6.5% | 14.8% | 2.3% | 0.8% | 0.3% | 7% | 9.8% |
| Working capital | ||||||||
| Receivable days | — | — | 31 | 27 | 29 | 46 | 34 | 21 |
| Inventory days | — | — | 139 | 128 | 158 | 119 | 76 | 76 |
| Payable days | — | — | 67 | 61 | 56 | 69 | 27 | 16 |
| NWC days | — | — | 104 | 94 | 131 | 96 | 84 | 81 |
| Leverage | ||||||||
| Current ratio | — | — | 0.67 | 3.55 | 5.94 | 2.38 | 3.08 | 2.61 |
| Debt to EBITDA | — | — | 0 | 0 | — | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | -2.5 | 39 | 178 | — | — | 39 | 312 | 358 |
| Asset turnover | — | — | 0.34 | 0.45 | 0.52 | 0.82 | 1.01 | 1.15 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.1% | 1% | 0.4% | 0.2% | 7% | 11.2% |
| Return on capital employed % | — | — | 7.8% | 1.5% | 0.3% | 1.7% | 11.3% | 19.8% |
| Return on equity % | — | — | 6.6% | 1.3% | 0.4% | 0.3% | 8.2% | 14% |
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.