Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 43.2% | 60.9% | 64.2% | 56% | 47.6% | 48.9% | 50.3% |
| EBITDA margin % | 8.8% | 10.6% | 15.8% | 14% | 8.7% | 5.4% | 4.4% | 7.2% |
| EBIT margin % | 5.4% | 7.6% | 13.4% | 12.2% | 6.7% | 3.3% | 2% | 4.7% |
| PAT margin % | 2.9% | 4.7% | 7.1% | 8% | 4.3% | 3.1% | 0.7% | 2.6% |
| Working capital | ||||||||
| Receivable days | — | — | 19 | 18 | 27 | 32 | 33 | 32 |
| Inventory days | — | — | 57 | 47 | 46 | 42 | 42 | 58 |
| Payable days | — | — | 67 | 60 | 64 | 70 | 38 | 50 |
| NWC days | — | — | 10 | 5 | 10 | 4 | 38 | 41 |
| Leverage | ||||||||
| Current ratio | — | — | 1.29 | 1.51 | 1.1 | 1.04 | 0.96 | 1 |
| Debt to EBITDA | — | — | 0.68 | 0.53 | 1.12 | 1.86 | 3.39 | 1.98 |
| Debt to equity | — | — | 0.3 | 0.23 | 0.31 | 0.33 | 0.52 | 0.47 |
| Interest coverage | 2.5 | 4.3 | 12.2 | 25.6 | 11.6 | 4.4 | 1.8 | 3.1 |
| Asset turnover | — | — | 1.67 | 1.9 | 1.77 | 1.78 | 1.68 | 1.6 |
| Return ratios | ||||||||
| Return on assets % | — | — | 11.9% | 15.1% | 7.7% | 5.5% | 1.2% | 4.2% |
| Return on capital employed % | — | — | 30.3% | 33.7% | 18.7% | 10.3% | 6.7% | 13.5% |
| Return on equity % | — | — | 20% | 24.2% | 13.8% | 10% | 2.5% | 8.7% |
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.