Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.8% | 43.1% | 37.7% | 40.1% | 37% | 31.8% | 32.6% | 32.2% |
| EBITDA margin % | 9.3% | 9.1% | 9.6% | 16.6% | 9.7% | 9% | 12% | 14.5% |
| EBIT margin % | 5.6% | 4.9% | 5.6% | 14% | 7.2% | 6.7% | 9.8% | 12.4% |
| PAT margin % | 2.6% | 1.5% | 2.3% | 8.1% | 4.3% | 4.5% | 6.8% | 9% |
| Working capital | ||||||||
| Receivable days | — | — | 14 | 14 | 12 | 11 | 12 | 17 |
| Inventory days | — | — | 219 | 189 | 152 | 126 | 131 | 161 |
| Payable days | — | — | 121 | 99 | 73 | 59 | 61 | 99 |
| NWC days | — | — | 112 | 104 | 91 | 77 | 82 | 79 |
| Leverage | ||||||||
| Current ratio | — | — | 1.48 | 1.37 | 1.72 | 1.61 | 1.6 | 1.3 |
| Debt to EBITDA | — | — | 4.87 | 1.7 | 1.66 | 1.02 | 0.99 | 1.02 |
| Debt to equity | — | — | 0.4 | 0.35 | 0.21 | 0.12 | 0.16 | 0.22 |
| Interest coverage | 2.1 | 1.6 | 2.1 | 7 | 4.7 | 4.9 | 11.1 | 17.1 |
| Asset turnover | — | — | 0.49 | 0.68 | 0.79 | 0.86 | 0.86 | 0.85 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.1% | 5.6% | 3.4% | 3.8% | 5.9% | 7.6% |
| Return on capital employed % | — | — | 4.4% | 14.3% | 8.3% | 8.1% | 12.8% | 16.9% |
| Return on equity % | — | — | 2% | 10.1% | 5.7% | 5.8% | 9.1% | 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.