Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.9% | 14.2% | 25.9% | 13.9% | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.9% | 14.2% | 25.9% | 13.9% | ||||
| 8.4% |
| 16.1% |
| 15.4% |
| 19.5% |
| EBITDA margin % | 3.8% | 1.8% | 5.9% | 2.7% | -1.6% | 5.4% | 3.6% | 6.4% |
| EBIT margin % | 2.7% | 0.6% | 4.6% | 1.7% | -2.5% | 4.2% | 2.3% | 4.9% |
| PAT margin % | 2% | 0.9% | 3.9% | 1.7% | -1.9% | 3.2% | 1.6% | 3.6% |
| Working capital | ||||||||
| Receivable days | — | — | 9 | 6 | 5 | 7 | 9 | 6 |
| Inventory days | — | — | 52 | 40 | 25 | 32 | 35 | 37 |
| Payable days | — | — | 30 | 30 | 20 | 26 | 27 | 29 |
| NWC days | — | — | 31 | 16 | 11 | 14 | 17 | 14 |
| Leverage | ||||||||
| Current ratio | — | — | 0.7 | 0.7 | 0.59 | 0.61 | 0.6 | 0.64 |
| Debt to EBITDA | — | — | 2.51 | 4.24 | — | 2.43 | 3.81 | 1.56 |
| Debt to equity | — | — | 1.11 | 1.12 | 2.33 | 1.47 | 1.38 | 0.8 |
| Interest coverage | 13.9 | 3.4 | 16.6 | 9.4 | -4.6 | 8.6 | 3.9 | 8.3 |
| Asset turnover | — | — | 2.06 | 2.49 | 3.02 | 2.66 | 2.5 | 2.47 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.1% | 4.3% | -5.8% | 8.5% | 4% | 8.9% |
| Return on capital employed % | — | — | 21.9% | 12.4% | -12.2% | 25.6% | 14.5% | 26.5% |
| Return on equity % | — | — | 29.5% | 16.5% | -32.4% | 35.8% | 16% | 28.7% |
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.