Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 32.9% | 36.1% | 41.1% | 39.1% | 36.6% | 36.1% | 31.8% |
| EBITDA margin % | 8.7% | 4% | 7.3% | 14.6% | 14.3% | 5.4% | 6.7% | 7.2% |
| EBIT margin % | 7.3% | 1.7% | 5% | 12.6% | 12.7% | 3.4% | 4.6% | 5.4% |
| PAT margin % | 5.8% | 1.3% | 5.6% | 9.9% | 11.5% | 5.9% | 6.1% | 6% |
| Working capital | ||||||||
| Receivable days | — | — | — | — | 16 | 21 | 64 | 74 |
| Inventory days | 67 | 90 | 69 | 90 | 62 | 78 | 85 | 87 |
| Payable days | 0 | 0 | 0 | — | 31 | 48 | 40 | 33 |
| NWC days | — | — | — | — | 47 | 50 | 110 | 128 |
| Leverage | ||||||||
| Current ratio | 1.86 | 1.9 | 3.46 | 3.43 | 5.17 | 4.47 | 4.36 | 4.86 |
| Debt to EBITDA | 1.36 | 4.97 | 0.06 | 0 | 0 | 0.01 | 0 | 0.03 |
| Debt to equity | 0.14 | 0.22 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 11.9 | 2.1 | 13 | 136.5 | 106.3 | 60.4 | 74.4 | 59 |
| Asset turnover | 0.83 | 0.76 | 0.68 | 0.64 | 0.82 | 0.6 | 0.66 | 0.76 |
| Return ratios | ||||||||
| Return on assets % | 4.8% | 1% | 3.8% | 6.4% | 9.4% | 3.5% | 4% | 4.6% |
| Return on capital employed % | 9.1% | 3.1% | 6.3% | 11.6% | 12.5% | 5.1% | 5.7% | 6.6% |
| Return on equity % | 6.8% | 1.5% | 4.6% | 7.6% | 10.8% | 4.2% | 4.8% | 5.4% |
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.