Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 49.7% | 50.1% | 46.9% | 51.5% | 46.6% | 48.1% | 46.6% | 48.7% |
| EBITDA margin % | 9.5% | 8.6% | 4.2% | 8.3% | 9.1% | 10.1% | 9.1% | 9.6% |
| EBIT margin % | 7.9% | 6.9% | 1.5% | 6.7% | 8% | 8.6% | 7.6% | 8.1% |
| PAT margin % | 2.4% | 2.2% | -1.8% | 4% | 4.4% | 4.3% | 3.5% | 4.8% |
| Working capital | ||||||||
| Receivable days | — | — | 108 | 83 | 70 | 79 | 85 | 89 |
| Inventory days | — | — | 351 | 405 | 266 | 289 | 272 | 324 |
| Payable days | — | — | 99 | 102 | 56 | 61 | 66 | 59 |
| NWC days | — | — | 360 | 387 | 280 | 307 | 291 | 354 |
| Leverage | ||||||||
| Current ratio | — | — | 1.08 | 1.15 | 1.27 | 1.28 | 1.27 | 1.33 |
| Debt to EBITDA | — | — | 15.85 | 6.61 | 4.68 | 4.17 | 4.71 | 4.85 |
| Debt to equity | — | — | 2.06 | 2.31 | 2.07 | 1.65 | 1.66 | 1.54 |
| Interest coverage | 1.8 | 1.8 | 0.5 | 2.5 | 2.7 | 2.6 | 2.4 | 2.9 |
| Asset turnover | — | — | 0.78 | 0.93 | 1.26 | 1.13 | 1.16 | 1.07 |
| Return ratios | ||||||||
| Return on assets % | — | — | -1.4% | 3.7% | 5.5% | 4.9% | 4% | 5.1% |
| Return on capital employed % | — | — | 7.1% | 33.3% | 39.3% | 32.9% | 29.2% | 30.4% |
| Return on equity % | — | — | -5.5% | 16.8% | 21.2% | 17% | 13.6% | 15.7% |
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.