Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 30.7% | 30.5% | 30.2% | 27.2% | 27.9% | 33.4% | 27.2% | 28.8% |
| EBITDA margin % | 7% | 7% | 5.9% | 4.4% | 3.8% | 8.7% | 2.9% | 4.7% |
| EBIT margin % | 4.3% | 3% | 1.7% | 1.1% | 0% | 4.6% | -1.2% | 0.9% |
| PAT margin % | 4.4% | 2.5% | 2.1% | 0.8% | 1.2% | 3.3% | -2% | 0.6% |
| Working capital | ||||||||
| Receivable days | 10 | — | 9 | 5 | 3 | 2 | 4 | 5 |
| Inventory days | 55 | — | 62 | 59 | 41 | 48 | 44 | 39 |
| Payable days | 39 | — | 43 | 37 | 32 | 39 | 37 | 33 |
| NWC days | 25 | — | 29 | 27 | 13 | 12 | 11 | 10 |
| Leverage | ||||||||
| Current ratio | 2.02 | — | 1.74 | 1.36 | 1.52 | 1.7 | 1.57 | 1.94 |
| Debt to EBITDA | 0.24 | — | 0.17 | 0.56 | 0.05 | 0.14 | 0.82 | 0.17 |
| Debt to equity | 0.03 | — | 0.02 | 0.05 | 0 | 0.03 | 0.06 | 0.02 |
| Interest coverage | 78.3 | 6.1 | 4.2 | 4 | 1.2 | 14.4 | -1.6 | 3.6 |
| Asset turnover | 1.41 | — | 1.21 | 1.35 | 1.81 | 1.6 | 1.79 | 1.86 |
| Return ratios | ||||||||
| Return on assets % | 6.1% | — | 2.5% | 1% | 2.2% | 5.3% | -3.6% | 1% |
| Return on capital employed % | 13.1% | — | 3.7% | 3.8% | 1.1% | 10.6% | -1.4% | 3.1% |
| Return on equity % | 8.3% | — | 3.4% | 1.5% | 3% | 7.3% | -5% | 1.4% |
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.