Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 44.3% | 39.5% | 37.7% | 38% | 38.1% | 36.3% |
| EBITDA margin % | 9% | 6.9% | 12.2% | 7.9% | 4.6% | 3.9% | 7.2% | 9.1% |
| EBIT margin % | 6.9% | 4.1% | 10.1% | 6.2% | 2.2% | 1.3% | 4.9% | 7.4% |
| PAT margin % | 5.2% | 1.6% | 6.7% | 4.2% | 0.9% | 0.1% | 1.7% | 5.1% |
| Working capital | ||||||||
| Receivable days | — | — | 45 | 36 | 47 | 55 | 52 | 48 |
| Inventory days | — | — | 149 | 113 | 144 | 117 | 100 | 85 |
| Payable days | — | — | 24 | 15 | 19 | 21 | 16 | 18 |
| NWC days | — | — | 169 | 134 | 172 | 151 | 136 | 115 |
| Leverage | ||||||||
| Current ratio | — | — | 1.26 | 1.29 | 1.29 | 1.07 | 1.29 | 1.69 |
| Debt to EBITDA | — | — | 2.88 | 3.72 | 8.4 | 11.61 | 3.26 | 1.72 |
| Debt to equity | — | — | 1.01 | 1.02 | 1.02 | 1.24 | 0.71 | 0.42 |
| Interest coverage | 3.3 | 1.6 | 5.8 | 3.6 | 1.2 | 1.1 | 2.1 | 5.4 |
| Asset turnover | — | — | 1.2 | 1.49 | 1.13 | 1.04 | 1.29 | 1.54 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8% | 6.2% | 1% | 0.1% | 2.2% | 7.9% |
| Return on capital employed % | — | — | 22.5% | 20.1% | 5.4% | 6.2% | 14.5% | 19.3% |
| Return on equity % | — | — | 19.2% | 14.6% | 2.3% | 0.2% | 5.2% | 13.9% |
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.