Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 71.2% | 42.7% | 39.5% | 47.4% | 40.7% | 41.7% | 43.7% | 42.1% |
| EBITDA margin % | 6.6% | 5.8% | 6.6% | 15.2% | 8.2% | 3.9% | 4.7% | 4.3% |
| EBIT margin % | 2.3% | 1.3% | 2.5% | 12.7% | 5.5% | 0.7% | 1.6% | 0.7% |
| PAT margin % | -1.2% | -1.6% | -0.6% | 7.8% | 4.5% | 0.7% | 1.3% | 3.8% |
| Working capital | ||||||||
| Receivable days | — | — | 51 | 50 | 34 | 40 | 45 | 45 |
| Inventory days | — | — | 219 | 254 | 148 | 240 | 231 | 207 |
| Payable days | — | — | 39 | 54 | 18 | 35 | 37 | 28 |
| NWC days | — | — | 231 | 250 | 163 | 245 | 239 | 225 |
| Leverage | ||||||||
| Current ratio | — | — | 1.33 | 1.42 | 2.22 | 1.58 | 1.56 | 1.85 |
| Debt to EBITDA | — | — | 7.44 | 2.31 | 1.91 | 9.39 | 8.68 | 11.26 |
| Debt to equity | — | — | 0.95 | 0.79 | 0.29 | 0.55 | 0.63 | 0.66 |
| Interest coverage | 0.8 | 0.5 | 0.8 | 4.9 | 3.7 | 1.5 | 1.6 | 2.6 |
| Asset turnover | — | — | 0.91 | 1.1 | 1.32 | 0.89 | 0.86 | 0.74 |
| Return ratios | ||||||||
| Return on assets % | — | — | -0.6% | 8.6% | 5.9% | 0.6% | 1.1% | 2.9% |
| Return on capital employed % | — | — | 5.1% | 29.2% | 13.8% | 4% | 6.5% | 8.6% |
| Return on equity % | — | — | -1.2% | 17.7% | 8.3% | 1% | 2.1% | 5.2% |
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.