Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 34% | 34.8% | 29.7% | 30.4% | 33.6% | 39.5% |
| EBITDA margin % | 3.8% | 7.5% | 5.5% | 7.8% | 9.6% | 11.9% | 12% | 11.9% |
| EBIT margin % | 0.4% | 4.2% | 2% | 5.7% | 8.1% | 10.2% | 9.9% | 9.2% |
| PAT margin % | 34.8% | 2.9% | 1.1% | 2.6% | 4.8% | 3.7% | 4.6% | 3.7% |
| Working capital | ||||||||
| Receivable days | 73 | — | 83 | 55 | 56 | 64 | 80 | 61 |
| Inventory days | 130 | — | 202 | 185 | 172 | 194 | 268 | 441 |
| Payable days | — | — | 96 | 116 | 63 | 47 | 142 | 169 |
| NWC days | — | — | 189 | 124 | 165 | 211 | 206 | 334 |
| Leverage | ||||||||
| Current ratio | 1.25 | — | 1.14 | 1.11 | 1.26 | 1.36 | 1.39 | 1.43 |
| Debt to EBITDA | 8.02 | — | 8.3 | 4.41 | 3.61 | 3.92 | 3.67 | 4.06 |
| Debt to equity | 0.58 | — | 0.89 | 1.08 | 1.08 | 1.16 | 0.79 | 0.72 |
| Interest coverage | 1.2 | 1.9 | 1.3 | 2.3 | 3.2 | 2.4 | 1.9 | 2 |
| Asset turnover | 0.88 | — | 0.84 | 1.08 | 1.21 | 0.98 | 0.76 | 0.66 |
| Return ratios | ||||||||
| Return on assets % | 30.7% | — | 0.9% | 2.8% | 5.9% | 3.6% | 3.5% | 2.4% |
| Return on capital employed % | 12.8% | — | 9.8% | 19.1% | 27.7% | 25.3% | 19.6% | 14.3% |
| Return on equity % | 65.2% | — | 2.1% | 8.1% | 15.1% | 9.2% | 8.2% | 5.5% |
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.