Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 35.8% | 30.8% | 46.9% | 49.3% | 28% | 25.6% | 30.3% | 28.4% |
| EBITDA margin % | 13% | 9.3% | 31.5% | 36.2% | 7.2% | 0.4% | 0.7% | 3.8% |
| EBIT margin % | 11.5% | 7.2% | 29.2% | 34.9% | 5.1% | -2.3% | -2.9% | 0.3% |
| PAT margin % | 9.3% | 5.7% | 20.9% | 26.1% | 4.9% | -1.2% | -1.4% | 4.4% |
| Working capital | ||||||||
| Receivable days | 43 | 42 | 59 | 34 | 38 | 33 | 39 | 62 |
| Inventory days | 81 | 58 | 45 | 35 | 38 | 52 | 130 | 89 |
| Payable days | — | — | 50 | 28 | 21 | 25 | 62 | 65 |
| NWC days | — | — | 54 | 41 | 55 | 60 | 107 | 85 |
| Leverage | ||||||||
| Current ratio | 2.11 | 2.55 | 3.31 | 5.78 | 4.57 | 3.65 | 2.42 | 2.38 |
| Debt to EBITDA | 0.16 | 0.14 | 0.05 | 0.03 | 0.09 | 7.88 | 9.88 | 2.02 |
| Debt to equity | 0.03 | 0.02 | 0.02 | 0.02 | 0.01 | 0.02 | 0.05 | 0.06 |
| Interest coverage | 50.4 | 10.2 | 63.9 | 57.4 | 9 | 0.7 | 0.3 | 3.2 |
| Asset turnover | 1.17 | 1.12 | 1.12 | 1.2 | 0.88 | 0.68 | 0.53 | 0.62 |
| Return ratios | ||||||||
| Return on assets % | 10.8% | 6.4% | 23.4% | 31.4% | 4.3% | -0.8% | -0.7% | 2.8% |
| Return on capital employed % | 21.4% | 11.8% | 47.5% | 59.9% | 7.1% | 0.6% | 0.3% | 3.6% |
| Return on equity % | 14.8% | 8.5% | 30.3% | 38.2% | 5.1% | -1% | -0.9% | 3.6% |
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.