Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.5% | 29.7% | 29.9% | 26.1% | 24.4% | 20.1% | 23.6% | 31.3% |
| EBITDA margin % | 1.9% | 6.8% | 9.5% | 8.6% | 9.2% | 0.4% | -5.3% | 6% |
| EBIT margin % | -0.4% | 4.4% | 7.3% | 7.1% | 8% | -0.7% | -6.9% | 4.6% |
| PAT margin % | -1% | 1.6% | 4.2% | 4.6% | 4.9% | -2.6% | -5.8% | 1.5% |
| Working capital | ||||||||
| Receivable days | — | — | 103 | 118 | 133 | 160 | 103 | 113 |
| Inventory days | — | — | 100 | 124 | 110 | 85 | 97 | 93 |
| Payable days | — | — | 120 | 117 | 107 | 79 | 110 | 89 |
| NWC days | — | — | 83 | 124 | 136 | 166 | 91 | 118 |
| Leverage | ||||||||
| Current ratio | — | — | 1.53 | 1.37 | 1.29 | 1.17 | 1.09 | 1.31 |
| Debt to EBITDA | — | — | 1.63 | 2.92 | 2.95 | 100.91 | — | 3.32 |
| Debt to equity | — | — | 0.45 | 0.85 | 1 | 1.23 | 0.6 | 0.41 |
| Interest coverage | 0.6 | 1.8 | 3.6 | 4.4 | 4.1 | -0 | -1.5 | 2.1 |
| Asset turnover | — | — | 1.23 | 1.16 | 1.21 | 1.07 | 1.07 | 1.09 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.2% | 5.4% | 5.9% | -2.8% | -6.3% | 1.6% |
| Return on capital employed % | — | — | 19.9% | 23.6% | 28.2% | -0.3% | -14.2% | 12.2% |
| Return on equity % | — | — | 12.2% | 15.7% | 17.8% | -8.9% | -15.8% | 3.1% |
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.