Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 79% | 79.9% | 79.3% | 83% | 79.6% | 79.6% | 78.1% | 79.3% |
| EBITDA margin % | 10.4% | 8.1% | 22.9% | 13.6% | 1.1% | 5.6% | 1.7% | 7.5% |
| EBIT margin % | 5.8% | 0.4% | 17.6% | 9.4% | -2.9% | 1.7% | -2.8% | 3.7% |
| PAT margin % | 3.5% | -0.7% | 11.8% | 8.2% | -1.5% | 2.6% | -0.2% | 8.5% |
| Working capital | ||||||||
| Receivable days | — | — | 19 | 13 | 16 | 15 | 17 | 16 |
| Inventory days | — | — | 162 | 247 | 222 | 167 | 207 | 195 |
| Payable days | — | — | 124 | 117 | 105 | 74 | 86 | 92 |
| NWC days | — | — | 56 | 143 | 133 | 108 | 138 | 119 |
| Leverage | ||||||||
| Current ratio | — | — | 1.19 | 1.15 | 1.06 | 1.13 | 0.99 | 1.2 |
| Debt to EBITDA | — | — | 0.97 | 1.16 | 16.57 | 2.39 | 13.56 | 3.51 |
| Debt to equity | — | — | 0.47 | 0.34 | 0.44 | 0.32 | 0.44 | 0.49 |
| Interest coverage | 2.6 | 0.7 | 6.2 | 6.8 | 0 | 3.3 | 1.9 | 8 |
| Asset turnover | — | — | 0.93 | 1.05 | 1.17 | 1.23 | 0.96 | 0.94 |
| Return ratios | ||||||||
| Return on assets % | — | — | 11% | 8.6% | -1.8% | 3.3% | -0.2% | 8% |
| Return on capital employed % | — | — | 25.9% | 20.9% | 0.1% | 9.6% | 4.4% | 14.7% |
| Return on equity % | — | — | 24.8% | 17.9% | -3.7% | 6.2% | -0.3% | 15.7% |
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.