Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 69.8% | 70% | ||||
| — |
| — |
| — |
| 71.6% |
| EBITDA margin % | 12.7% | 10.9% | 12.4% | 12.1% | 8% | 7.3% | 7.3% | 8.9% |
| EBIT margin % | 8.1% | 5.3% | 6.5% | 6.9% | 3.1% | 1.9% | 1.5% | 3.7% |
| PAT margin % | 3.8% | 0.6% | 2.5% | 3% | 0.5% | -0.9% | -1.1% | 0.8% |
| Working capital | ||||||||
| Receivable days | — | 70 | 104 | 90 | 85 | 89 | 81 | 82 |
| Inventory days | — | 79 | 288 | 236 | 73 | 73 | 69 | 266 |
| Payable days | — | 1 | 325 | 282 | 13 | 7 | 4 | 12 |
| NWC days | — | 148 | 67 | 44 | 146 | 155 | 146 | 336 |
| Leverage | ||||||||
| Current ratio | — | — | 0.98 | 1.05 | — | — | — | — |
| Debt to EBITDA | — | 3.14 | 3.21 | 2.62 | 3.71 | 3.62 | 4.48 | 3.99 |
| Debt to equity | — | 0.67 | 0.75 | 0.77 | 0.86 | 0.78 | 0.96 | 1.13 |
| Interest coverage | 2.5 | 1.2 | 1.9 | 2.1 | 1.2 | 0.8 | 0.6 | 1.4 |
| Asset turnover | — | 0.83 | 0.73 | 0.91 | 1.02 | 1.03 | 1 | 1.03 |
| Return ratios | ||||||||
| Return on assets % | — | 0.5% | 1.8% | 2.7% | 0.6% | -0.9% | -1.1% | 0.8% |
| Return on capital employed % | — | — | 9.2% | 13% | — | — | 3.3% | 8% |
| Return on equity % | — | 1.1% | 4.7% | 7.3% | 1.6% | -2.6% | -3.1% | 2.5% |
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.