Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 63.1% | 58.6% | 49.2% | 59.6% | 59.2% | 61.6% |
| EBITDA margin % | 3.4% | 5.4% | 9.7% | 10.1% | -13.7% | 4.5% | 9.7% | 8.8% |
| EBIT margin % | 1.3% | 2.3% | 6.9% | 7.9% | -18.5% | 0.7% | 7.2% | 6.3% |
| PAT margin % | -0.3% | 0.4% | 3.7% | 5.3% | -21.5% | 1% | 2% | 2.2% |
| Working capital | ||||||||
| Receivable days | — | — | 52 | 47 | 37 | 24 | 31 | 28 |
| Inventory days | — | — | 289 | 216 | 274 | 280 | 212 | 247 |
| Payable days | — | — | 219 | 153 | 191 | 221 | 170 | 148 |
| NWC days | — | — | 122 | 110 | 120 | 83 | 73 | 126 |
| Leverage | ||||||||
| Current ratio | — | — | 1.06 | 1.05 | 0.79 | 0.73 | 0.86 | 1.02 |
| Debt to EBITDA | — | — | 2.01 | 2.58 | — | 8.29 | 2.88 | 3.03 |
| Debt to equity | — | — | 0.85 | 1.12 | 3.11 | 2.52 | 2.21 | 1.82 |
| Interest coverage | 1 | 1.1 | 3.2 | 4.1 | -2.5 | 0.4 | 1.6 | 1.7 |
| Asset turnover | — | — | 1.19 | 1.28 | 0.91 | 1.06 | 1.38 | 1.41 |
| Return ratios | ||||||||
| Return on assets % | — | — | 4.4% | 6.8% | -19.6% | 1% | 2.8% | 3.1% |
| Return on capital employed % | — | — | 27.7% | 34.9% | -36.5% | 8.7% | 35.3% | 30.9% |
| Return on equity % | — | — | 16.1% | 22.9% | -138.8% | 6.7% | 15.8% | 15.2% |
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.