Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.5% | 64.6% | 68.1% | 63.5% | 56% | 64.2% | 71.6% | 70.3% |
| EBITDA margin % | 5.8% | 12.5% | 1.3% | 1.4% | -12% | -10.6% | -4.4% | 15.2% |
| EBIT margin % | 3.4% | 8.6% | -4.3% | -2.8% | -16.3% | -14.4% | -7.2% | 12.8% |
| PAT margin % | 8.3% | 15% | 13.7% | 6.5% | -6.7% | 1.1% | 10.5% | 6.8% |
| Working capital | ||||||||
| Receivable days | — | — | 83 | 60 | 61 | 66 | 53 | 62 |
| Inventory days | — | — | 114 | 115 | 74 | 70 | 57 | 53 |
| Payable days | — | — | 202 | 119 | 122 | 163 | 169 | 225 |
| NWC days | — | — | -5 | 56 | 13 | -26 | -59 | -111 |
| Leverage | ||||||||
| Current ratio | — | — | 1.2 | 1.92 | 1.24 | 1.52 | 1.75 | 1.49 |
| Debt to EBITDA | — | — | 11.38 | 12.14 | — | — | — | 0.72 |
| Debt to equity | — | — | 0.05 | 0.07 | 0.04 | 0.04 | 0.02 | 0.05 |
| Interest coverage | 6.8 | 18.7 | 11 | 6.5 | -2.4 | 0.3 | 11.6 | 21.3 |
| Asset turnover | — | — | 0.26 | 0.31 | 0.33 | 0.31 | 0.32 | 0.3 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.5% | 2% | -2.2% | 0.4% | 3.4% | 2% |
| Return on capital employed % | — | — | 5.8% | 3.7% | -2.5% | 0.2% | 5.7% | 11.6% |
| Return on equity % | — | — | 4.7% | 2.7% | -3.2% | 0.5% | 5% | 3.2% |
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.