Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 9.9% | 2.8% | ||||
| 8.3% |
| 20.3% |
| 11.6% |
| 4% |
| EBITDA margin % | — | 3.8% | 5.6% | -1.9% | 1.1% | 0.5% | 1.3% | 1.8% |
| EBIT margin % | — | 3.8% | 5.5% | -2% | 1% | 0.5% | 0.9% | 1.6% |
| PAT margin % | — | 6.1% | 5.9% | -0.8% | 4.4% | 0.2% | 7.5% | 4.2% |
| Working capital | ||||||||
| Receivable days | — | — | 129 | 86 | 82 | 109 | 148 | 78 |
| Inventory days | — | — | 146 | 136 | 151 | 133 | 102 | 36 |
| Payable days | — | — | 135 | 85 | 21 | 36 | 103 | 87 |
| NWC days | — | — | 139 | 137 | 211 | 207 | 148 | 27 |
| Leverage | ||||||||
| Current ratio | — | — | 3.74 | 3.43 | 9.19 | 14.83 | 3.01 | 1.83 |
| Debt to EBITDA | — | — | 0 | — | 11.41 | 20.06 | 7.5 | 1.62 |
| Debt to equity | — | — | 0 | 0 | 0.2 | 0.05 | 0.05 | 0.05 |
| Interest coverage | — | — | — | — | 5.8 | 2.2 | 13.3 | 11.9 |
| Asset turnover | — | — | 0.77 | 1.26 | 1.28 | 0.43 | 0.42 | 1.19 |
| Return ratios | ||||||||
| Return on assets % | — | — | 4.5% | -1% | 5.6% | 0.1% | 3.1% | 5% |
| Return on capital employed % | — | — | 7.3% | -2.5% | 2.1% | 2% | 5.4% | 9.6% |
| Return on equity % | — | — | 6.1% | -1.4% | 7.3% | 0.1% | 3.7% | 7.6% |
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.