Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 55.6% | 54.8% | 58.7% | 58.2% | 55.9% | 48.4% | 49.4% |
| EBITDA margin % | 15.7% | 20.1% | 25.7% | 23% | 15.7% | 9.1% | 5.2% |
| EBIT margin % | 8.1% | 13.8% | 21.5% | 19.2% | 11.1% | 3.7% | -1.4% |
| PAT margin % | 1.9% | 7.5% | 14.4% | 12.9% | 8.6% | 5% | -1.9% |
| Working capital | |||||||
| Receivable days | 30 | 28 | 9 | 9 | 7 | 11 | 21 |
| Inventory days | 147 | 118 | 90 | 75 | 107 | 98 | 89 |
| Payable days | 117 | 104 | 81 | 54 | 58 | 51 | 55 |
| NWC days | 60 | 42 | 19 | 29 | 55 | 58 | 54 |
| Leverage | |||||||
| Current ratio | 1.06 | 1.25 | 1.53 | 2.62 | 2.59 | 1.94 | 1.94 |
| Debt to EBITDA | 3.72 | 2.18 | 0.68 | 0.46 | 1.09 | 2.97 | 4.42 |
| Debt to equity | 0.74 | 0.58 | 0.29 | 0.16 | 0.2 | 0.28 | 0.26 |
| Interest coverage | 1.5 | 4.1 | 21.8 | 19.3 | 15.9 | 11.4 | -0.2 |
| Asset turnover | 0.58 | 0.69 | 1.04 | 1.05 | 0.83 | 0.67 | 0.75 |
| Return ratios | |||||||
| Return on assets % | 1.1% | 5.2% | 14.9% | 13.5% | 7.2% | 3.4% | -1.4% |
| Return on capital employed % | 6% | 12% | 29.4% | 26.5% | 12.3% | 4.3% | -0.4% |
| Return on equity % | 2.4% | 9.8% | 23.6% | 19.1% | 10.3% | 5.2% | -2.1% |
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.