Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.7% | 39.9% | 45.2% | 40.2% | 37.7% | 43.2% | 45.4% | 43.4% |
| EBITDA margin % | 8.4% | 10% | 18% | 10% | 8.3% | 10.7% | 11.3% | 11.2% |
| EBIT margin % | 6.9% | 7.6% | 15.8% | 7.7% | 6.2% | 8.4% | 9.1% | 9.2% |
| PAT margin % | 3.2% | 14.8% | -24.8% | 3.9% | 1.5% | 5.1% | 6.1% | 11.8% |
| Working capital | ||||||||
| Receivable days | 26 | 15 | 10 | 11 | 28 | 32 | 28 | 29 |
| Inventory days | 179 | 106 | 131 | 122 | 115 | 122 | 143 | 134 |
| Payable days | 181 | 93 | 96 | 83 | 76 | 82 | 102 | 94 |
| NWC days | 25 | 28 | 45 | 49 | 67 | 72 | 68 | 69 |
| Leverage | ||||||||
| Current ratio | 1.24 | 1.57 | 0.91 | 0.93 | 1.07 | 1.13 | 1.15 | 1.31 |
| Debt to EBITDA | 2.4 | 2.26 | 1.89 | 3.08 | 3.39 | 2.03 | 1.89 | 1.1 |
| Debt to equity | 0.78 | 0.49 | 1.7 | 1.26 | 1.18 | 0.74 | 0.63 | 0.29 |
| Interest coverage | 2.5 | 2 | 3.9 | 2 | 1.5 | 3.5 | 4.8 | 7.2 |
| Asset turnover | 1.24 | 0.96 | 1.21 | 1.27 | 1.35 | 1.37 | 1.24 | 1.2 |
| Return ratios | ||||||||
| Return on assets % | 4% | 14.2% | -30% | 5% | 2% | 6.9% | 7.6% | 14.2% |
| Return on capital employed % | 26% | 20.7% | 32.6% | 19.4% | 15.8% | 20.4% | 20.7% | 19.3% |
| Return on equity % | 12.5% | 32.2% | -124.1% | 16.1% | 6.4% | 17.4% | 18% | 27.7% |
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.