Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.4% | 54.7% | 61.8% | 72.3% | 74.4% | 76.2% | 73.7% | 76.9% |
| EBITDA margin % | 22.8% | 20.1% | 11.1% | 21.1% | 17.9% | 16.2% | 17.1% | 15.3% |
| EBIT margin % | 15.7% | 10.5% | -1.6% | 12.7% | 11.4% | 9.7% | 9.9% | 8% |
| PAT margin % | 3.1% | 1.7% | -14.8% | 1.8% | 3.8% | 2.8% | 4.9% | 5.5% |
| Working capital | ||||||||
| Receivable days | — | 145 | 144 | 66 | 35 | 32 | 73 | 91 |
| Inventory days | — | 779 | 1,240 | 1,201 | 975 | 954 | 744 | 881 |
| Payable days | — | 184 | 223 | 203 | 227 | 205 | 210 | 251 |
| NWC days | — | 741 | 1,161 | 1,064 | 782 | 780 | 607 | 722 |
| Leverage | ||||||||
| Current ratio | — | 1.46 | 1.45 | 1.55 | 1.33 | 1.38 | 1.34 | 1.4 |
| Debt to EBITDA | — | 3.73 | 9.27 | 3.13 | 3.83 | 3.56 | 3.02 | 4.45 |
| Debt to equity | — | 0.23 | 0.25 | 0.24 | 0.33 | 0.29 | 0.28 | 0.37 |
| Interest coverage | 1.3 | 1.2 | -0 | 1.3 | 1.6 | 2 | 1.9 | 2.1 |
| Asset turnover | — | 0.22 | 0.17 | 0.26 | 0.32 | 0.34 | 0.36 | 0.33 |
| Return ratios | ||||||||
| Return on assets % | — | 0.4% | -2.5% | 0.5% | 1.2% | 0.9% | 1.7% | 1.8% |
| Return on capital employed % | — | 5.3% | -0% | 4.6% | 5.2% | 5.3% | 5.7% | 5.7% |
| Return on equity % | — | 0.5% | -3.6% | 0.6% | 1.9% | 1.4% | 2.7% | 3% |
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.