Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 52.5% | 41.7% | 49.3% | 57.9% | 45.5% | 47.3% | 60.3% | 62.8% |
| EBITDA margin % | 16.5% | 5.6% | 18.3% | 31.2% | 18.3% | 13.9% | 20.7% | 20.8% |
| EBIT margin % | 10.5% | -0.9% | 12.7% | 26.9% | 14.3% | 11.1% | 18.6% | 18.6% |
| PAT margin % | 0.7% | -4.2% | 9% | 19.5% | 8.4% | 14.1% | 14.7% | 15% |
| Working capital | ||||||||
| Receivable days | 14 | — | 18 | 20 | 12 | 11 | 16 | 31 |
| Inventory days | 256 | — | 174 | 207 | 162 | 177 | 264 | 283 |
| Payable days | 2 | — | 74 | 49 | 52 | 59 | 70 | 96 |
| NWC days | 268 | — | 118 | 178 | 121 | 129 | 210 | 218 |
| Leverage | ||||||||
| Current ratio | 1.42 | — | 1.56 | 1.61 | 2.09 | 2.55 | 2.67 | 1.42 |
| Debt to EBITDA | 2.49 | — | 1.97 | 0.59 | 0.66 | 0.44 | 0.7 | 1.57 |
| Debt to equity | 0.59 | — | 0.54 | 0.28 | 0.17 | 0.08 | 0.16 | 0.34 |
| Interest coverage | 2.3 | 0.1 | 5 | 11.7 | 6 | 15.3 | 17.7 | 15.6 |
| Asset turnover | 0.62 | — | 0.73 | 0.93 | 1.02 | 0.98 | 0.81 | 0.66 |
| Return ratios | ||||||||
| Return on assets % | 0.4% | — | 6.6% | 18.1% | 8.6% | 13.8% | 11.9% | 9.9% |
| Return on capital employed % | 10.3% | — | 16% | 38.5% | 20.8% | 27.5% | 23.4% | 21.2% |
| Return on equity % | 1% | — | 13.6% | 29.9% | 12.1% | 18.6% | 16.3% | 15.8% |
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.