Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 33.2% | 34% | 38.5% | 39.5% | 41.4% | 43.2% | 42.2% | 44.5% |
| EBITDA margin % | 4.5% | 1.2% | 1.9% | 4.7% | 9.3% | 9.8% | 0.3% | 4.8% |
| EBIT margin % | 3.3% | -0.3% | -0% | 3.3% | 8.1% | 8.5% | -1.5% | 3.2% |
| PAT margin % | 4.7% | 12.6% | 1.2% | 3.6% | 71.1% | 8.5% | 1.3% | 4.3% |
| Working capital | ||||||||
| Receivable days | — | — | 40 | 38 | 48 | 57 | 66 | 57 |
| Inventory days | — | — | 158 | 163 | 148 | 149 | 186 | 217 |
| Payable days | — | — | 73 | 73 | 80 | 80 | 86 | 83 |
| NWC days | — | — | 125 | 129 | 117 | 125 | 166 | 191 |
| Leverage | ||||||||
| Current ratio | — | — | 1.57 | 1.63 | 1.81 | 2.11 | 1.82 | 1.7 |
| Debt to EBITDA | — | — | 68.99 | 18.26 | 0 | 0 | 32.35 | 2.26 |
| Debt to equity | — | — | -1.59 | -1.71 | 0 | 0 | 0.16 | 0.22 |
| Interest coverage | 5.4 | 194.8 | 1.7 | 4.3 | 8.7 | 9.5 | 4.8 | 7.2 |
| Asset turnover | — | — | 1.2 | 1.61 | 1.7 | 1.49 | 1.15 | 1.18 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.4% | 5.7% | 120.9% | 12.6% | 1.5% | 5.1% |
| Return on capital employed % | — | — | 3.4% | 12.2% | 30.4% | 24.2% | 4.4% | 15% |
| Return on equity % | — | — | -1.4% | -7.2% | 207.2% | 19.7% | 2.5% | 8.9% |
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.