Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 24.9% | 19.2% | 22% | 26.7% | 26.3% | 29.3% |
| EBITDA margin % | 7.8% | 8.7% | 0.6% | 2.1% | 6.6% | 13% | 13.5% | 16.4% |
| EBIT margin % | 3.7% | 2.4% | -8.1% | -3.8% | 1.8% | 9.2% | 10.1% | 13.2% |
| PAT margin % | 4% | 1.9% | -5.6% | -2.3% | 3% | 5.8% | 9.9% | 13.4% |
| Working capital | ||||||||
| Receivable days | — | — | 23 | 21 | 14 | 5 | 8 | 8 |
| Inventory days | — | — | 136 | 89 | 77 | 83 | 73 | 72 |
| Payable days | — | — | 108 | 72 | 69 | 61 | 48 | 59 |
| NWC days | — | — | 52 | 38 | 22 | 27 | 32 | 20 |
| Leverage | ||||||||
| Current ratio | — | — | 1 | 0.8 | 1.03 | 1.25 | 1.49 | 1.87 |
| Debt to EBITDA | — | — | 50.47 | 16.01 | 2.9 | 0.58 | 0.02 | 0 |
| Debt to equity | — | — | 0.35 | 0.6 | 0.49 | 0.23 | 0.01 | 0 |
| Interest coverage | 13.6 | 4.2 | -4.8 | -1.8 | 2.2 | 11 | 33.6 | 401 |
| Asset turnover | — | — | 0.61 | 0.88 | 1.24 | 1.56 | 1.55 | 1.37 |
| Return ratios | ||||||||
| Return on assets % | — | — | -3.4% | -2% | 3.7% | 9% | 15.4% | 18.3% |
| Return on capital employed % | — | — | -5.7% | -3% | 6.1% | 25.2% | 27.5% | 32.5% |
| Return on equity % | — | — | -6% | -4.2% | 7.9% | 17.3% | 25.8% | 28.4% |
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.