Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 87.1% | 38.8% | 35.6% | 32.6% | 27.4% | 30.2% | 38.9% | 37.8% |
| EBITDA margin % | 8.4% | 5.7% | 14.9% | 13.5% | 11.1% | 10% | 10.9% | 3% |
| EBIT margin % | 5.5% | 2.2% | 11.3% | 10.8% | 9.1% | 7.4% | 6.6% | -3.6% |
| PAT margin % | 10% | 2.2% | 8.8% | 7.4% | 5.7% | 5.2% | 7.1% | -0.5% |
| Working capital | ||||||||
| Receivable days | 53 | 27 | 29 | 50 | 60 | 60 | 70 | 65 |
| Inventory days | 1,223 | 339 | 231 | 272 | 157 | 205 | 364 | 372 |
| Payable days | 440 | 121 | 88 | 136 | 60 | 70 | 93 | 84 |
| NWC days | 836 | 244 | 173 | 186 | 156 | 195 | 341 | 352 |
| Leverage | ||||||||
| Current ratio | 1.88 | 1.63 | 1.93 | 1.7 | 1.87 | 1.9 | 1.67 | 1.55 |
| Debt to EBITDA | 0.46 | 2.13 | 0.59 | 1.06 | 1 | 1.41 | 2.42 | 10.61 |
| Debt to equity | 0.04 | 0.12 | 0.09 | 0.18 | 0.19 | 0.19 | 0.27 | 0.32 |
| Interest coverage | 13.3 | 5.3 | 12.6 | 17.1 | 7.1 | 5.3 | 4 | 0.7 |
| Asset turnover | 0.71 | 0.6 | 0.69 | 0.71 | 1.06 | 0.85 | 0.6 | 0.58 |
| Return ratios | ||||||||
| Return on assets % | 7.1% | 1.3% | 6.1% | 5.3% | 6% | 4.4% | 4.3% | -0.3% |
| Return on capital employed % | 13.8% | 3.1% | 12.5% | 14.2% | 16.8% | 11.9% | 9.3% | 1.5% |
| Return on equity % | 9.9% | 2.1% | 8.7% | 9.1% | 9.9% | 7% | 7.3% | -0.5% |
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.