Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 49.9% | 48.1% | 46.7% | 48% | 46.7% | 46.6% |
| EBITDA margin % | 7.5% | 2.1% | -1.2% | 6.3% | 7.8% | 12.9% | 8% | 2.2% |
| EBIT margin % | 3.6% | -1.9% | -5.2% | 3.5% | 5.9% | 11.2% | 5.8% | -0.2% |
| PAT margin % | 2.7% | -1.5% | -4.7% | 2.5% | 3.7% | 6.7% | 5.1% | -0.8% |
| Working capital | ||||||||
| Receivable days | 111 | 113 | 97 | 77 | 76 | 83 | 90 | 85 |
| Inventory days | 116 | 137 | 287 | 189 | 164 | 166 | 155 | 150 |
| Payable days | — | — | 167 | 115 | 103 | 106 | 94 | 111 |
| NWC days | — | — | 217 | 151 | 137 | 143 | 152 | 125 |
| Leverage | ||||||||
| Current ratio | 1.67 | 1.63 | 1.75 | 1.91 | 1.83 | 1.73 | 1.87 | 1.72 |
| Debt to EBITDA | 1.68 | 9 | — | 0.83 | 0.76 | 0.81 | 1.39 | 4.27 |
| Debt to equity | 0.17 | 0.24 | 0.15 | 0.09 | 0.13 | 0.26 | 0.24 | 0.21 |
| Interest coverage | 2.3 | -0.1 | -1.9 | 4.1 | 7 | 11.3 | 3.7 | 0.2 |
| Asset turnover | 0.83 | 0.78 | 0.77 | 1.14 | 1.32 | 1.33 | 1.27 | 1.25 |
| Return ratios | ||||||||
| Return on assets % | 2.2% | -1.2% | -3.6% | 2.8% | 4.9% | 8.9% | 6.5% | -1% |
| Return on capital employed % | 6.8% | -0.4% | -4.6% | 7.5% | 14.3% | 30.2% | 13.7% | 0.6% |
| Return on equity % | 3.7% | -2% | -5.8% | 4.4% | 8.2% | 16.5% | 11.2% | -1.8% |
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.