Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 88.4% | 84.8% | 82.4% | 81.8% | 86.8% | 81.7% | 84.5% |
| EBITDA margin % | 4.4% | 16.2% | 19.9% | 14% | 8.2% | 11.7% | 9.4% | 12.3% |
| EBIT margin % | 0.5% | 12.3% | 15.4% | 10% | 4.4% | 7.4% | 4.7% | 7.7% |
| PAT margin % | -0.8% | 6.2% | 8.4% | 5% | 1% | 3.5% | 2.7% | 7.3% |
| Working capital | ||||||||
| Receivable days | — | — | 11 | 9 | 7 | 7 | 9 | 8 |
| Inventory days | — | — | 416 | 270 | 287 | 492 | 326 | 427 |
| Payable days | — | — | 360 | 235 | 278 | 377 | 290 | 271 |
| NWC days | — | — | 67 | 43 | 16 | 123 | 45 | 164 |
| Leverage | ||||||||
| Current ratio | — | — | 1.05 | 1.04 | 0.86 | 0.85 | 0.82 | 0.72 |
| Debt to EBITDA | — | — | 2.42 | 2.85 | 4.14 | 2.96 | 3.91 | 4.01 |
| Debt to equity | — | — | 0.94 | 0.84 | 0.81 | 0.74 | 0.72 | 0.89 |
| Interest coverage | 0.7 | 2.9 | 3.6 | 2.8 | 1.7 | 2.5 | 2 | 2.8 |
| Asset turnover | — | — | 0.7 | 0.81 | 0.91 | 0.83 | 0.78 | 0.73 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.9% | 4% | 0.9% | 2.9% | 2.1% | 5.3% |
| Return on capital employed % | — | — | 19.4% | 14.9% | 9.2% | 13.6% | 11.1% | 13.3% |
| Return on equity % | — | — | 16.3% | 10.5% | 2.3% | 7.4% | 5.3% | 13.2% |
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.