Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.5% | 43.4% | 44.2% | 39.7% | ||||
| 39.3% |
| 41% |
| 39.4% |
| 39.2% |
| EBITDA margin % | 4.9% | 4.7% | 7.7% | 1.5% | 3.9% | 4.8% | 5.9% | 5.5% |
| EBIT margin % | 2.8% | 1.2% | 4% | -1.9% | 1% | 2% | 3.2% | 3.3% |
| PAT margin % | 2.9% | 1.1% | 2.3% | -1.5% | 0.4% | 1.6% | 2.6% | 2.5% |
| Working capital | ||||||||
| Receivable days | — | — | 33 | 32 | 35 | 37 | 30 | 26 |
| Inventory days | — | — | 108 | 104 | 83 | 77 | 81 | 70 |
| Payable days | — | — | 151 | 145 | 119 | 138 | 113 | 106 |
| NWC days | — | — | -10 | -9 | -1 | -25 | -1 | -10 |
| Leverage | ||||||||
| Current ratio | — | — | 1.39 | 1.17 | 1.09 | 1.13 | 1.21 | 1.31 |
| Debt to EBITDA | — | — | 0.9 | 4.66 | 1.24 | 0.32 | 0.34 | 0.04 |
| Debt to equity | — | — | 0.27 | 0.37 | 0.3 | 0.09 | 0.11 | 0.01 |
| Interest coverage | 14.4 | 2.9 | 4.4 | -1.4 | 2.2 | 4.3 | 8.2 | 10.1 |
| Asset turnover | — | — | 1.46 | 1.67 | 1.98 | 1.99 | 2.1 | 2.23 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.3% | -2.6% | 0.8% | 3.2% | 5.5% | 5.5% |
| Return on capital employed % | — | — | 12.6% | -4.6% | 6.7% | 12.5% | 19.1% | 18.2% |
| Return on equity % | — | — | 8.7% | -8% | 2.6% | 9.5% | 15% | 13.4% |
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.