Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 22% | 23.1% | 25.7% | 28.4% | ||||
| 29.8% |
| 35.4% |
| 36% |
| 28.6% |
| EBITDA margin % | 0.6% | 1.2% | 3.4% | 4.5% | 4.2% | 14.1% | 13.7% | 6% |
| EBIT margin % | -2.7% | -2.1% | 0% | 2.5% | 2.6% | 12.8% | 12.2% | 3.9% |
| PAT margin % | -5% | -3.9% | -2.7% | 1% | 0.9% | 13.7% | 8.8% | 2.3% |
| Working capital | ||||||||
| Receivable days | — | — | 32 | 12 | 14 | 14 | 25 | 21 |
| Inventory days | — | — | 123 | 83 | 70 | 84 | 112 | 125 |
| Payable days | — | — | 132 | 90 | 76 | 77 | 64 | 70 |
| NWC days | — | — | 23 | 6 | 7 | 21 | 73 | 76 |
| Leverage | ||||||||
| Current ratio | — | — | 0.31 | 0.32 | 0.78 | 1 | 1.27 | 1.25 |
| Debt to EBITDA | — | — | 35.99 | 15.22 | 3.36 | 0.52 | 0.64 | 1.16 |
| Debt to equity | — | — | -1.98 | -1.91 | 1.55 | 0.31 | 0.26 | 0.18 |
| Interest coverage | -0.4 | -0.1 | 0.1 | 1.5 | 2.2 | 14.3 | 13.4 | 4 |
| Asset turnover | — | — | 0.93 | 1.56 | 2.07 | 1.91 | 1.63 | 1.42 |
| Return ratios | ||||||||
| Return on assets % | — | — | -2.5% | 1.6% | 2% | 26.2% | 14.3% | 3.2% |
| Return on capital employed % | — | — | -1.1% | -13.6% | 16% | 67.6% | 40.2% | 11% |
| Return on equity % | — | — | 4.4% | -2.9% | 10.4% | 58.5% | 26.3% | 5.8% |
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.