Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 18% | 25.1% | 21.8% | 18.8% | 20.1% | 24.2% | 22.6% |
| EBITDA margin % | 3.8% | -14.1% | 10.4% | 7.1% | 4.2% | 5.3% | 7.6% | 5.6% |
| EBIT margin % | 3.8% | -15.9% | 8.5% | 5.2% | 2.5% | 3.8% | 6% | 3.8% |
| PAT margin % | 3.1% | -6% | 6% | 3.8% | 2.1% | 2.4% | 4.1% | 3.2% |
| Working capital | ||||||||
| Receivable days | 5 | 3 | 2 | 2 | 3 | 3 | 3 | 5 |
| Inventory days | 18 | 23 | 38 | 35 | 51 | 30 | 40 | 32 |
| Payable days | 9 | 9 | 7 | 9 | 6 | 17 | 20 | 19 |
| NWC days | 15 | 16 | 34 | 29 | 48 | 16 | 24 | 18 |
| Leverage | ||||||||
| Current ratio | 0.82 | 0.83 | 1.24 | 1.6 | 1.44 | 1.7 | 1.78 | 1.35 |
| Debt to EBITDA | 2.39 | — | 0.21 | 0.02 | 0.94 | 0.45 | 0.43 | 1.32 |
| Debt to equity | 0.31 | 0.53 | 0.09 | 0.01 | 0.17 | 0.11 | 0.14 | 0.3 |
| Interest coverage | 8.8 | -6 | 12 | 46.1 | 29.2 | 18.7 | 18.1 | 11.6 |
| Asset turnover | 1.7 | 2.79 | 2.81 | 2.97 | 2.86 | 2.96 | 2.69 | 2.36 |
| Return ratios | ||||||||
| Return on assets % | 5.2% | -16.6% | 16.9% | 11.4% | 5.9% | 7.2% | 11.1% | 7.5% |
| Return on capital employed % | 13.8% | -12.7% | 32.5% | 21.5% | 12.1% | 17.1% | 25.7% | 15.1% |
| Return on equity % | 10.4% | -34.6% | 24.4% | 15.4% | 8.9% | 11.3% | 17.7% | 13.1% |
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.