Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.9% | 53% | 51.4% | 56.6% | 54.1% | 50.3% | 58.6% | 55.1% |
| EBITDA margin % | 9.3% | 4.1% | 8.3% | 4.1% | 1.2% | -2.2% | 0% | -7.1% |
| EBIT margin % | 3.2% | -4.1% | 0.9% | -5% | -8.8% | -9.2% | -8.3% | -16.6% |
| PAT margin % | 6% | 3.6% | 7% | 3.7% | 2% | 0.1% | 2.4% | 7.9% |
| Working capital | ||||||||
| Receivable days | 127 | 129 | 116 | 96 | 102 | 137 | 137 | 181 |
| Inventory days | 279 | 324 | 293 | 463 | 507 | 511 | 749 | 837 |
| Payable days | 83 | 75 | 66 | 69 | 84 | 60 | 103 | 143 |
| NWC days | 323 | 379 | 342 | 490 | 525 | 588 | 784 | 875 |
| Leverage | ||||||||
| Current ratio | 3.99 | 6.03 | 4.57 | 4.37 | 4.67 | 3.4 | 3.33 | 3.91 |
| Debt to EBITDA | 2.21 | 2.7 | 1.47 | 2.2 | 13.91 | — | — | — |
| Debt to equity | 0.12 | 0.05 | 0.06 | 0.04 | 0.06 | 0.1 | 0.08 | 0.05 |
| Interest coverage | 5.6 | 3.9 | 9.7 | 5.7 | 2.2 | 1.1 | 2.2 | 4.2 |
| Asset turnover | 0.47 | 0.39 | 0.4 | 0.35 | 0.3 | 0.25 | 0.2 | 0.19 |
| Return ratios | ||||||||
| Return on assets % | 2.8% | 1.4% | 2.8% | 1.3% | 0.6% | 0% | 0.5% | 1.5% |
| Return on capital employed % | 5.3% | 3.1% | 3.6% | 1.7% | 0.9% | 0.8% | 1.4% | 2.8% |
| Return on equity % | 3.6% | 1.7% | 3.2% | 1.4% | 0.7% | 0% | 0.5% | 1.7% |
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.