Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 76.1% | 78.7% | 77.3% | 75.3% | 76.5% | 77.7% | 75.2% | 74.1% |
| EBITDA margin % | 14.7% | 17% | 12.4% | 17.5% | 18.1% | 18.1% | 16.8% | 17.7% |
| EBIT margin % | 7.3% | 5.4% | -1.8% | 7.1% | 9.3% | 9.6% | 8.1% | 8.9% |
| PAT margin % | 1.1% | -7.7% | -31.4% | 4.5% | 4% | 3.1% | 0.3% | 1.1% |
| Working capital | ||||||||
| Receivable days | 83 | 81 | 88 | 69 | 77 | 68 | 75 | 70 |
| Inventory days | 39 | 31 | 32 | 30 | 33 | 31 | 23 | 26 |
| Payable days | 253 | 0 | 214 | 167 | 168 | 197 | 175 | 168 |
| NWC days | -131 | 112 | -95 | -69 | -59 | -98 | -77 | -71 |
| Leverage | ||||||||
| Current ratio | 0.63 | 0.5 | 1.31 | 1.66 | 1.69 | 1.37 | 1.03 | 1.6 |
| Debt to EBITDA | 4.21 | 3.58 | 3.17 | 0.72 | 0.67 | 1.98 | 3.02 | 2.35 |
| Debt to equity | 0.61 | 0.68 | 0.26 | 0.1 | 0.11 | 0.33 | 0.55 | 0.35 |
| Interest coverage | 1.3 | 0.6 | 0.2 | 1.7 | 2.5 | 2.5 | 1.6 | 1.8 |
| Asset turnover | 0.46 | 0.39 | 0.39 | 0.52 | 0.58 | 0.5 | 0.49 | 0.47 |
| Return ratios | ||||||||
| Return on assets % | 0.5% | -3% | -12.2% | 2.3% | 2.3% | 1.6% | 0.1% | 0.5% |
| Return on capital employed % | 6.3% | 4.2% | 0.8% | 5.2% | 7% | 7.2% | 7.3% | 6.9% |
| Return on equity % | 1.1% | -8.7% | -20.7% | 3.5% | 3.5% | 2.9% | 0.3% | 0.9% |
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.