Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 27.1% | 30.1% | 22.8% | 22.5% | 22.1% | 25.7% | 27% | 24.4% |
| EBITDA margin % | 9.9% | 12.4% | 6.4% | 6% | 4.2% | 8.6% | 10.8% | 10.8% |
| EBIT margin % | 8.9% | 11% | 5.2% | 4.8% | 2.8% | 7.1% | 9.5% | 9.5% |
| PAT margin % | 4.6% | 6.2% | 1.8% | 2.1% | -1.8% | 2.4% | 5.7% | 6.1% |
| Working capital | ||||||||
| Receivable days | — | — | — | 66 | 69 | 63 | 61 | 87 |
| Inventory days | — | — | — | 98 | 121 | 92 | 92 | 69 |
| Payable days | — | 69 | — | 60 | 69 | 45 | 46 | 57 |
| NWC days | — | — | — | 104 | 120 | 110 | 107 | 99 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.46 | 1.23 | 1.21 | 1.21 | 1.17 |
| Debt to EBITDA | — | 2.27 | — | 3.36 | 6.93 | 2.91 | 2.26 | 2.17 |
| Debt to equity | — | 0.88 | — | 0.69 | 0.94 | 1.04 | 0.99 | 1 |
| Interest coverage | 3.3 | 4.6 | 1.8 | 2.6 | 1.3 | 2.9 | 4.8 | 5.7 |
| Asset turnover | — | 1.24 | — | 1.51 | 1.23 | 1.56 | 1.57 | 1.55 |
| Return ratios | ||||||||
| Return on assets % | — | 7.6% | — | 3.2% | -2.2% | 3.8% | 8.9% | 9.4% |
| Return on capital employed % | — | 29.2% | — | 13.5% | 7.4% | 25% | 35.5% | 39% |
| Return on equity % | — | 19.3% | — | 7.3% | -5.7% | 10% | 23.3% | 26.1% |
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.