Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 58.1% | 20.4% | 29.1% | 25.4% | 17.6% | 17.3% | 17.6% | 20.3% |
| EBITDA margin % | 7.5% | 8% | 15.6% | 13.9% | 5.4% | 5.6% | 6.1% | 8.3% |
| EBIT margin % | 6% | 6.1% | 13% | 12.2% | 3.8% | 3.9% | 4.3% | 6.5% |
| PAT margin % | 3% | 4.4% | 7.5% | 7.9% | 2.1% | 2.6% | 3.2% | 4.4% |
| Working capital | ||||||||
| Receivable days | 13 | 16 | 20 | 14 | 11 | 10 | 11 | 9 |
| Inventory days | 52 | 28 | 59 | 48 | 42 | 43 | 48 | 47 |
| Payable days | 1 | 0 | 63 | 41 | 42 | 40 | 56 | 60 |
| NWC days | 64 | 44 | 15 | 21 | 11 | 13 | 3 | -4 |
| Leverage | ||||||||
| Current ratio | 1.08 | 1.19 | 1.34 | 1.59 | 1.27 | 1.44 | 1.4 | 1.44 |
| Debt to EBITDA | 2.52 | 3.01 | 1.69 | 0.67 | 1.3 | 0.97 | 0.48 | 0.35 |
| Debt to equity | 1.16 | 1.12 | 0.77 | 0.33 | 0.27 | 0.19 | 0.09 | 0.08 |
| Interest coverage | 3.4 | 3 | 5.1 | 13.7 | 3.1 | 5.9 | 8.2 | 5.7 |
| Asset turnover | 2.03 | 1.72 | 1.23 | 1.89 | 2.04 | 2.04 | 1.87 | 1.69 |
| Return ratios | ||||||||
| Return on assets % | 6% | 7.5% | 9.2% | 15% | 4.3% | 5.3% | 5.9% | 7.5% |
| Return on capital employed % | 17.5% | 15.7% | 22.1% | 33% | 11.7% | 11.6% | 12.7% | 17.5% |
| Return on equity % | 18% | 20.4% | 21.7% | 27.9% | 8.2% | 9.2% | 10.1% | 12.2% |
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.