Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 17.5% | 20.6% | 19% | 23.9% | 23.9% | 22.3% | 23.4% | 26.7% |
| EBITDA margin % | 5.5% | 1.7% | 7.4% | 9.7% | 12.3% | 13.5% | 14.2% | 11.8% |
| EBIT margin % | 0.7% | -5% | 5% | 7.7% | 11.1% | 12.7% | 13.4% | 10.4% |
| PAT margin % | 41.1% | -0.1% | 3.4% | 4.3% | 6.1% | 9.1% | 9.6% | 7.2% |
| Working capital | ||||||||
| Receivable days | 30 | 32 | 72 | 22 | 38 | 47 | 76 | 97 |
| Inventory days | 30 | 174 | 303 | 130 | 114 | 117 | 86 | 190 |
| Payable days | 52 | 126 | 175 | 58 | 46 | 57 | 53 | 75 |
| NWC days | 8 | 80 | 200 | 94 | 106 | 107 | 109 | 212 |
| Leverage | ||||||||
| Current ratio | 1.34 | 1.05 | 1.51 | 1.59 | 1.4 | 1.6 | 2.08 | 2.02 |
| Debt to EBITDA | 3.25 | 22.95 | 5.1 | 1.22 | 1.13 | 0.69 | 0.72 | 1.95 |
| Debt to equity | 0.4 | 0.5 | 0.22 | 0.2 | 0.36 | 0.21 | 0.14 | 0.19 |
| Interest coverage | 0.1 | -0.5 | 2.8 | 5.2 | 8.1 | 11.9 | 10.4 | 5.4 |
| Asset turnover | 1.03 | 0.63 | 0.37 | 1.1 | 1.26 | 1.3 | 1 | 0.6 |
| Return ratios | ||||||||
| Return on assets % | 42.5% | -0.1% | 1.2% | 4.7% | 7.7% | 11.9% | 9.6% | 4.3% |
| Return on capital employed % | 1.4% | -2.1% | 4.9% | 13.6% | 29.7% | 38.3% | 24.7% | 10.3% |
| Return on equity % | 92.5% | -0.1% | 1.9% | 7.3% | 15.5% | 20.5% | 13.6% | 6.1% |
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.