Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 52.8% | 50.6% | 55.2% | 54.9% | ||||
| 51.9% |
| 47.7% |
| 42.4% |
| 36.5% |
| EBITDA margin % | 19.8% | 12.4% | 12.6% | 15.4% | 11.9% | 9% | 3.6% | 4.3% |
| EBIT margin % | 16.1% | 7.9% | 5.9% | 11% | 7.8% | 4.3% | -1.7% | -0.8% |
| PAT margin % | 2.5% | 6.8% | 7.3% | 14.6% | 7.9% | 3.7% | 0.7% | 0.9% |
| Working capital | ||||||||
| Receivable days | 62 | 57 | 39 | 30 | 22 | 28 | 30 | 29 |
| Inventory days | 110 | 105 | 143 | 153 | 127 | 141 | 121 | 80 |
| Payable days | — | — | 175 | 188 | 133 | 148 | 97 | 84 |
| NWC days | — | — | 8 | -5 | 16 | 21 | 54 | 24 |
| Leverage | ||||||||
| Current ratio | 1.52 | 1.1 | 1.15 | 1.28 | 1.16 | 1.05 | 1.25 | 1.26 |
| Debt to EBITDA | 0.71 | 2.13 | 2.66 | 1.28 | 1.65 | 4.08 | 9.74 | 6.62 |
| Debt to equity | 0.07 | 0.13 | 0.1 | 0.08 | 0.11 | 0.18 | 0.2 | 0.21 |
| Interest coverage | 19.5 | 6.5 | 5.3 | 12.9 | 8.4 | 5.4 | 1.7 | 1.6 |
| Asset turnover | 0.4 | 0.38 | 0.23 | 0.33 | 0.43 | 0.35 | 0.4 | 0.51 |
| Return ratios | ||||||||
| Return on assets % | 1% | 2.6% | 1.7% | 4.9% | 3.4% | 1.3% | 0.3% | 0.4% |
| Return on capital employed % | 8.4% | 4.6% | 2.8% | 6.3% | 5.8% | 4.1% | 1.8% | 2.2% |
| Return on equity % | 1.2% | 3.4% | 2.1% | 6.3% | 4.5% | 1.8% | 0.4% | 0.6% |
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.