Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 9.3% | 12.2% | 13.4% | 8% | 10.5% |
| EBITDA margin % | 2.3% | 4.2% | 2.6% | 2% | 4% | 6.1% | 2.8% | 3.4% |
| EBIT margin % | 1.7% | 3.7% | 1.8% | 1.3% | 3.7% | 5.2% | 2.2% | 2.9% |
| PAT margin % | 0.8% | 2.5% | 1.4% | 1.7% | 2.6% | 4.9% | 2.4% | 2.5% |
| Working capital | ||||||||
| Receivable days | 53 | 41 | 91 | 78 | 51 | 54 | 74 | 78 |
| Inventory days | 10 | 4 | 3 | 11 | 4 | 19 | 10 | 6 |
| Payable days | 3 | — | — | 5 | 2 | 2 | 2 | — |
| NWC days | 60 | — | — | 84 | 54 | 71 | 82 | — |
| Leverage | ||||||||
| Current ratio | 1.39 | 2.6 | 2.34 | 2.37 | 2.31 | 7.09 | 6.13 | 6.18 |
| Debt to EBITDA | 6.09 | 1.28 | 3.53 | 5.46 | 1.72 | 0.44 | 0.76 | 0.35 |
| Debt to equity | 0.58 | 0.27 | 0.28 | 0.37 | 0.38 | 0.05 | 0.05 | 0.03 |
| Interest coverage | 2.4 | 4.6 | 3.6 | 5.4 | 7.9 | 17.3 | 10.9 | 6.2 |
| Asset turnover | 2.48 | 3.68 | 2.2 | 2.36 | 3.61 | 1.57 | 2.22 | 2.19 |
| Return ratios | ||||||||
| Return on assets % | 2% | 9.3% | 3% | 4% | 9.5% | 7.7% | 5.4% | 5.6% |
| Return on capital employed % | 8.4% | 21.7% | 8.5% | 9.9% | 27% | 12.5% | 10.1% | 10.5% |
| Return on equity % | 3.4% | 12.7% | 4.2% | 5.9% | 14.7% | 8.9% | 6.3% | 6.4% |
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.