Standalone figures
| Ratio | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 53.1% | 49% | 44.7% | 50% | 54% |
| EBITDA margin % | 15.9% | 6.8% | 6.9% | 7.8% | 10.6% | 15.7% | 22.1% | 26.3% |
| EBIT margin % | 12.7% | 3.9% | 3.8% | 3.3% | 8.3% | 14.5% | 21% | 24.6% |
| PAT margin % | 5.4% | 4.1% | 3.9% | -103.7% | 1.3% | 13.6% | 13.5% | 16.3% |
| Working capital | ||||||||
| Receivable days | — | — | 90 | 173 | 150 | 73 | 76 | 80 |
| Inventory days | — | — | 30 | 72 | 60 | 85 | 50 | 74 |
| Payable days | — | — | 69 | 192 | 154 | 76 | 65 | 110 |
| NWC days | — | — | 51 | 53 | 56 | 82 | 62 | 44 |
| Leverage | ||||||||
| Current ratio | — | — | 1.28 | 1.45 | 1.68 | 1.72 | 1.88 | 2.4 |
| Debt to EBITDA | — | — | 13.4 | 12.1 | 5.88 | 1.85 | 1.12 | 1.01 |
| Debt to equity | — | — | 1.18 | 1.76 | 1.04 | 0.61 | 0.3 | 0.2 |
| Interest coverage | 2.1 | 1.5 | 1.4 | 1.1 | 1.3 | 5.9 | 6.9 | 7.4 |
| Asset turnover | — | — | 0.47 | 0.44 | 0.53 | 0.84 | 0.68 | 0.5 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.9% | -45.6% | 0.7% | 11.5% | 9.3% | 8.2% |
| Return on capital employed % | — | — | 23.3% | 10.9% | 8.7% | 30.6% | 28.5% | 20.6% |
| Return on equity % | — | — | 5% | -192.1% | 2.1% | 28.6% | 16.3% | 12.1% |
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.