Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 50% | 33.6% | 45.9% | 41.8% | 45.4% | 49.2% |
| EBITDA margin % | 17.8% | 16.8% | 8% | -6% | 18.8% | 17.7% | 21.8% | 15.5% |
| EBIT margin % | 15.3% | 13.4% | 2.5% | -12.2% | 14.7% | 14.8% | 18.6% | 12.1% |
| PAT margin % | 10.9% | 8.6% | 3.5% | -15.9% | 12.1% | 10% | 14.2% | 8.5% |
| Working capital | ||||||||
| Receivable days | — | — | 73 | 105 | 86 | 66 | 108 | 92 |
| Inventory days | — | — | 589 | 286 | 283 | 151 | 151 | 258 |
| Payable days | — | — | 239 | 126 | 126 | 31 | 36 | 90 |
| NWC days | — | — | 423 | 265 | 244 | 186 | 223 | 261 |
| Leverage | ||||||||
| Current ratio | — | — | 1.49 | 1.34 | 1.54 | 1.93 | 2.51 | 1.85 |
| Debt to EBITDA | — | — | 7.49 | — | 1.3 | 0.97 | 0.59 | 1.44 |
| Debt to equity | — | — | 0.71 | 0.94 | 0.54 | 0.41 | 0.19 | 0.31 |
| Interest coverage | 12.1 | 4.5 | 2.2 | -2.5 | 5.6 | 8.1 | 16.8 | 5.9 |
| Asset turnover | — | — | 0.51 | 0.71 | 0.96 | 1.31 | 1 | 0.85 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.8% | -11.2% | 11.6% | 13.1% | 14.1% | 7.2% |
| Return on capital employed % | — | — | 8.9% | -14.6% | 29.2% | 35.2% | 33.3% | 17.9% |
| Return on equity % | — | — | 4.1% | -31% | 26.5% | 24% | 21% | 11.9% |
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.