Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 40.1% | 37.8% | 38.7% | 42.5% | 29.7% | 27% |
| EBITDA margin % | 7.2% | 5.4% | 11% | 8.8% | 7% | 18.6% | 10.8% | 11.3% |
| EBIT margin % | 5.4% | 5.4% | 9.5% | 7.5% | 5.9% | 17.4% | 10% | 10.5% |
| PAT margin % | 4% | 3.3% | 6.8% | 6.4% | 7% | 17.7% | 14.8% | 13.5% |
| Working capital | ||||||||
| Receivable days | — | — | 55 | 67 | — | 74 | 46 | 102 |
| Inventory days | — | — | 51 | 74 | — | 153 | 135 | 174 |
| Payable days | — | — | 61 | 74 | — | 136 | 60 | 65 |
| NWC days | — | — | 45 | 67 | — | 90 | 121 | 210 |
| Leverage | ||||||||
| Current ratio | — | — | 1.98 | 1.95 | — | 5.45 | 6.42 | 4.57 |
| Debt to EBITDA | — | — | 1.13 | 1.88 | — | 0.07 | 0.12 | 1.69 |
| Debt to equity | — | — | 0.18 | 0.23 | — | 0 | 0.01 | 0.1 |
| Interest coverage | 4.8 | 5.4 | 8.3 | 6.8 | 5.9 | 13.7 | 11.8 | 8.4 |
| Asset turnover | — | — | 1.01 | 0.9 | — | 0.33 | 0.43 | 0.44 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.8% | 5.7% | — | 5.7% | 6.4% | 5.9% |
| Return on capital employed % | — | — | 15.4% | 14.2% | — | 9.2% | 10.3% | 10.1% |
| Return on equity % | — | — | 10.1% | 8.9% | — | 6.9% | 7.6% | 7.4% |
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.