Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 48.1% | 53.5% | 61.7% | — | — | 47.4% |
| EBITDA margin % | 10% | 10.7% | 3.8% | 11.5% | 11.7% | 12% | 12.6% | 13.2% |
| EBIT margin % | 5.6% | 4.6% | -1.4% | 6.5% | 6.6% | 8.2% | 9.4% | 10.1% |
| PAT margin % | 2.6% | 2.4% | 0.9% | 2.2% | 3.5% | 3.7% | 2.8% | 5.1% |
| Working capital | ||||||||
| Receivable days | 60 | 92 | 77 | 69 | 82 | 78 | 55 | 63 |
| Inventory days | 194 | 260 | 412 | 272 | 436 | 166 | 147 | 190 |
| Payable days | 26 | — | 119 | 92 | 101 | 28 | 20 | 29 |
| NWC days | 228 | — | 369 | 249 | 417 | 217 | 181 | 224 |
| Leverage | ||||||||
| Current ratio | 1.63 | 1.89 | 1.87 | 2.13 | 2.44 | 2.3 | 1.94 | 1.89 |
| Debt to EBITDA | 3.73 | 4.5 | 11.22 | 2.08 | 3.85 | 3.3 | 3.57 | 3.16 |
| Debt to equity | 0.5 | 0.49 | 0.47 | 0.34 | 0.49 | 0.52 | 0.69 | 0.67 |
| Interest coverage | 1.6 | 1.2 | 1.1 | 4.1 | 1.7 | 2.3 | 2.1 | 3.1 |
| Asset turnover | 0.76 | 0.57 | 0.58 | 0.82 | 0.62 | 0.75 | 0.78 | 0.83 |
| Return ratios | ||||||||
| Return on assets % | 2% | 1.4% | 0.5% | 1.8% | 2.1% | 2.8% | 2.2% | 4.2% |
| Return on capital employed % | 8.1% | 6.1% | 5.7% | 19% | 6.8% | 9.5% | 12.4% | 14.4% |
| Return on equity % | 3.4% | 2.5% | 0.9% | 3.1% | 3.8% | 4.9% | 4.3% | 8.2% |
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.