Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 23.4% | 18.6% | 28.3% | 29.1% | 30.5% | 26.5% | 29.4% | 11.9% |
| EBITDA margin % | 8.1% | 6% | 4.6% | 6.6% | 5.3% | 3.8% | 6% | 3.4% |
| EBIT margin % | 4.9% | 3.7% | 1% | 2.9% | 2.8% | 0.5% | 1.4% | 1.2% |
| PAT margin % | 2.2% | 1.9% | 1% | 3.1% | 3% | 2.6% | 1.7% | 1.2% |
| Working capital | ||||||||
| Receivable days | — | — | — | 60 | 101 | 41 | 26 | 6 |
| Inventory days | — | — | — | 58 | 121 | 112 | 53 | 18 |
| Payable days | — | — | — | 12 | 40 | 16 | 2 | 2 |
| NWC days | — | — | — | 107 | 182 | 137 | 77 | 22 |
| Leverage | ||||||||
| Current ratio | — | — | — | 2.94 | 1.8 | 1.83 | 7.18 | 4.53 |
| Debt to EBITDA | — | — | — | 1.25 | 4.05 | 6.82 | 1.39 | 0.22 |
| Debt to equity | — | — | — | 0.18 | 0.43 | 0.5 | 0.12 | 0.03 |
| Interest coverage | 2.2 | 2.6 | 2.9 | 7.6 | 5.1 | 2.2 | 2.9 | 6.1 |
| Asset turnover | — | — | — | 1.59 | 1.16 | 1.1 | 1.18 | 3.19 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 4.9% | 3.4% | 2.9% | 2% | 3.8% |
| Return on capital employed % | — | — | — | 7.7% | 8.5% | 11% | 4.1% | 6.5% |
| Return on equity % | — | — | — | 6.6% | 5.9% | 5.1% | 2.5% | 4.7% |
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.