Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 16.7% | 8.3% | -4.6% | 8.2% | 6.3% | 9.8% |
| EBITDA margin % | — | — | 15.1% | 6.3% | -7.9% | 4% | 0.5% | 3.9% |
| EBIT margin % | — | — | 14.6% | 6.1% | -8.3% | 3.3% | -0.6% | 3.2% |
| PAT margin % | — | — | 13.2% | 4.6% | -9% | 2.2% | -0.3% | 2% |
| Working capital | ||||||||
| Receivable days | — | — | 5 | 7 | 36 | 19 | 30 | 26 |
| Inventory days | — | — | 139 | 151 | 176 | 84 | 101 | 95 |
| Payable days | — | — | 20 | 79 | 42 | 21 | 18 | 41 |
| NWC days | — | — | 124 | 80 | 170 | 82 | 113 | 80 |
| Leverage | ||||||||
| Current ratio | — | — | 4.06 | 1.91 | 1.5 | 2.92 | 1.93 | 1.83 |
| Debt to EBITDA | — | — | 0 | 0 | — | 3.25 | 35.75 | 3.38 |
| Debt to equity | — | — | 0 | 0 | 0 | 0.86 | 0.61 | 0.65 |
| Interest coverage | 6 | -0.8 | 100.1 | 15.6 | -3 | 2.2 | 0.6 | 2.3 |
| Asset turnover | — | — | 1.74 | 1.99 | 1.35 | 2.78 | 1.99 | 2.18 |
| Return ratios | ||||||||
| Return on assets % | — | — | 23% | 9.3% | -12.1% | 6.1% | -0.7% | 4.4% |
| Return on capital employed % | — | — | 33.5% | 26.1% | -18.7% | 26.6% | 4% | 21.8% |
| Return on equity % | — | — | 28.6% | 17.3% | -28.7% | 14.4% | -1.2% | 10% |
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.