Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48.4% | 49.6% | 50.4% | 50.7% | 46.5% | 49.2% | 48.1% | 55.4% |
| EBITDA margin % | 18.7% | 18.9% | 21.1% | 19.7% | 19.3% | 20.4% | -2.4% | 7.3% |
| EBIT margin % | 4.3% | 6.9% | 10.9% | 6.4% | 14.3% | 16% | -6.8% | 2.5% |
| PAT margin % | 6.6% | -2.8% | -0.5% | -0.6% | 3.7% | 34.1% | 46.6% | 6.7% |
| Working capital | ||||||||
| Receivable days | — | 187 | 171 | 158 | 149 | 32 | 106 | 108 |
| Inventory days | — | 330 | 304 | 310 | 253 | 0 | 137 | 184 |
| Payable days | — | 122 | 106 | 122 | 114 | 37 | 141 | 185 |
| NWC days | — | 395 | 368 | 346 | 287 | -6 | 102 | 107 |
| Leverage | ||||||||
| Current ratio | — | 2.72 | 3.01 | 3.18 | 3.06 | 3.06 | 3.67 | 3.48 |
| Debt to EBITDA | — | 7.26 | 5.52 | 4.85 | 3.84 | 0.03 | — | 0.38 |
| Debt to equity | — | 1.6 | 1.56 | 1.49 | 1.26 | 0.01 | 0.03 | 0.01 |
| Interest coverage | 0.8 | 0.8 | 1.2 | 1.1 | 2.1 | 4.7 | 15 | 44.7 |
| Asset turnover | — | 0.4 | 0.47 | 0.55 | 0.64 | 1.11 | 0.39 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | — | -1.1% | -0.2% | -0.3% | 2.4% | 37.9% | 18% | 2.6% |
| Return on capital employed % | — | 5.7% | 7.6% | 7% | 13.5% | 20.5% | 4.1% | 4.8% |
| Return on equity % | — | -3.2% | -0.7% | -0.9% | 6.3% | 45.4% | 22% | 3.1% |
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.