Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 38.2% | 68.5% | 40.7% | 36.9% | 37.3% | 39.7% | 38.8% | 39.1% |
| EBITDA margin % | 11.2% | 13% | 14.3% | 14.6% | 13.3% | 12.9% | 10.9% | 11% |
| EBIT margin % | 6.5% | 6.5% | 7.7% | 9.5% | 8.2% | 7.6% | 4.3% | 4.5% |
| PAT margin % | 3.6% | 0.5% | 3.8% | 6.4% | 5.1% | 3.9% | 1.5% | 1.4% |
| Working capital | ||||||||
| Receivable days | 44 | 34 | 36 | 27 | 24 | 28 | 30 | 38 |
| Inventory days | 51 | 88 | 53 | 43 | 39 | 45 | 53 | 70 |
| Payable days | 2 | 5 | 25 | 19 | 18 | 21 | 24 | 32 |
| NWC days | 94 | 118 | 64 | 50 | 45 | 52 | 59 | 76 |
| Leverage | ||||||||
| Current ratio | 0.9 | 0.78 | 0.77 | 1.01 | 1.18 | 1.12 | 0.94 | 1.14 |
| Debt to EBITDA | 3.34 | 2.62 | 2.24 | 1.12 | 0.82 | 0.98 | 1.79 | 2.04 |
| Debt to equity | 1.05 | 0.95 | 0.79 | 0.44 | 0.25 | 0.27 | 0.4 | 0.47 |
| Interest coverage | 2.3 | 1.3 | 1.9 | 3.5 | 3.4 | 3.1 | 1.7 | 1.6 |
| Asset turnover | 1.14 | 1.19 | 1.21 | 1.66 | 1.64 | 1.44 | 1.25 | 1.24 |
| Return ratios | ||||||||
| Return on assets % | 4.1% | 0.6% | 4.6% | 10.6% | 8.3% | 5.7% | 1.8% | 1.7% |
| Return on capital employed % | 17.6% | 11% | 13.7% | 21.8% | 17.8% | 15.5% | 8.6% | 8.6% |
| Return on equity % | 10% | 1.4% | 9.3% | 17.2% | 11.6% | 8.4% | 3% | 2.9% |
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.