Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 22.3% | 20.1% | 24% | 24.9% | 27.3% |
| EBITDA margin % | 7.5% | 9.7% | 5.2% | 5.2% | 5% | 10.1% | 10.9% | 11.6% |
| EBIT margin % | 5.3% | 8.3% | 3.5% | 3.6% | 4% | 9.1% | 9.8% | 10.6% |
| PAT margin % | 3% | 4.7% | 1.7% | 1.5% | 2.9% | 3.9% | 4.5% | 4.6% |
| Working capital | ||||||||
| Receivable days | — | — | — | 114 | 149 | 46 | 68 | 142 |
| Inventory days | — | — | — | 241 | 96 | 263 | 244 | 265 |
| Payable days | — | — | — | 214 | 100 | 104 | 88 | 160 |
| NWC days | — | — | — | 141 | 144 | 205 | 224 | 248 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.5 | 2.07 | 2.04 | 1.54 | 1.31 |
| Debt to EBITDA | — | — | — | 5.84 | 4.76 | 3.11 | 2.78 | 3.16 |
| Debt to equity | — | — | — | 0.92 | 0.78 | 0.9 | 0.87 | 1.18 |
| Interest coverage | 1.6 | 3.2 | 1.6 | 2.1 | 2.8 | 2.9 | 2.6 | 2.3 |
| Asset turnover | — | — | — | 0.81 | 1.19 | 1.07 | 1.13 | 0.93 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 1.2% | 3.4% | 4.2% | 5.1% | 4.3% |
| Return on capital employed % | — | — | — | 11.3% | 14.1% | 20.3% | 24.1% | 33.8% |
| Return on equity % | — | — | — | 4.7% | 9.3% | 11.2% | 12.9% | 14.7% |
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.