Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 66.8% | 62.8% | 61.5% | 65.7% | 67.8% | 65.9% |
| EBITDA margin % | -32.1% | 19.9% | 25.1% | 19.6% | 11.7% | 12.1% | 23.3% | 20.2% |
| EBIT margin % | -51.7% | 14.4% | 20% | 13.5% | 4.2% | 4.3% | 17.9% | 15.5% |
| PAT margin % | -13.8% | 21.1% | 13.9% | 7.8% | -17.3% | -6.1% | 15.7% | 14.3% |
| Working capital | ||||||||
| Receivable days | 1,237 | — | 94 | 111 | 75 | 92 | 102 | 90 |
| Inventory days | 1,251 | — | 392 | 328 | 317 | 272 | 249 | 363 |
| Payable days | 620 | — | 135 | 115 | 150 | 184 | 169 | 184 |
| NWC days | 1,869 | — | 351 | 324 | 242 | 180 | 181 | 270 |
| Leverage | ||||||||
| Current ratio | 1.88 | — | 1.6 | 1.69 | 1.19 | 1.48 | 1.62 | 1.86 |
| Debt to EBITDA | — | — | 2.21 | 3.11 | 5.64 | 3.58 | 1.09 | 1.2 |
| Debt to equity | 0.78 | — | 0.56 | 0.6 | 0.65 | 0.42 | 0.29 | 0.27 |
| Interest coverage | -0.6 | 2.4 | 4.5 | 3.5 | 1.1 | 1.3 | 6.2 | 8.2 |
| Asset turnover | 0.04 | — | 0.55 | 0.54 | 0.5 | 0.54 | 0.69 | 0.69 |
| Return ratios | ||||||||
| Return on assets % | -0.5% | — | 7.6% | 4.2% | -8.6% | -3.3% | 10.9% | 9.9% |
| Return on capital employed % | -3.2% | — | 16.6% | 11.8% | 4.6% | 5% | 21.4% | 21.7% |
| Return on equity % | -1.1% | — | 14% | 7.6% | -17% | -6% | 17.8% | 15.8% |
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.