Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 52.7% | 47.7% | 37% | 39.9% | 46.9% | 54% | 55% |
| EBITDA margin % | 7.8% | 13% | 10.2% | -2.6% | -6.3% | 2.2% | 5.1% | 6.9% |
| EBIT margin % | 6.6% | 11.6% | 9% | -4.1% | -7.7% | 1% | 3.9% | 5.9% |
| PAT margin % | 4.4% | 8.2% | 7.6% | -4.1% | -5.8% | 0.6% | 2.6% | 4.1% |
| Working capital | ||||||||
| Receivable days | 207 | 211 | 248 | 302 | 197 | 202 | 232 | 254 |
| Inventory days | 40 | 97 | 94 | 99 | 116 | 116 | 121 | 96 |
| Payable days | 2 | 6 | 11 | 10 | 164 | 161 | 208 | 246 |
| NWC days | 245 | 302 | 331 | 391 | 150 | 158 | 145 | 103 |
| Leverage | ||||||||
| Current ratio | 2.31 | 2.05 | 2.44 | 1.96 | 2.2 | 2.35 | 2.13 | 1.74 |
| Debt to EBITDA | 0.17 | 0.35 | 0 | — | — | 2.7 | 1.81 | 2.09 |
| Debt to equity | 0.02 | 0.08 | 0 | 0.14 | 0.09 | 0.09 | 0.15 | 0.24 |
| Interest coverage | 13.2 | 17.4 | 39.9 | -4.1 | -6.1 | 2.1 | 5.7 | 7 |
| Asset turnover | 1.18 | 1.08 | 0.95 | 0.76 | 0.83 | 1.02 | 0.94 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | 5.2% | 8.8% | 7.2% | -3.1% | -4.8% | 0.6% | 2.5% | 3.6% |
| Return on capital employed % | 12.5% | 21.3% | 14.5% | -4.5% | -8% | 3.4% | 7.7% | 12.3% |
| Return on equity % | 7.6% | 13.6% | 10.3% | -4.9% | -7.5% | 1% | 4.2% | 6.9% |
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.