Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 52.9% | 55.7% | ||||
| 54.3% |
| 49.8% |
| 50% |
| 49.8% |
| EBITDA margin % | 7.9% | 3.4% | 13.8% | 18.9% | 20.5% | 13.5% | 11.5% | 12.3% |
| EBIT margin % | 2.6% | 3.4% | 8.4% | 15.1% | 16.3% | 7.9% | 6.5% | 7.6% |
| PAT margin % | 3.3% | 1.4% | 8.7% | 10.3% | 11.1% | 5.1% | 4% | 6.5% |
| Working capital | ||||||||
| Receivable days | — | — | 123 | 71 | 110 | 127 | 133 | 129 |
| Inventory days | — | — | 64 | 28 | 39 | 83 | 92 | 85 |
| Payable days | — | — | 157 | 108 | 127 | 140 | 155 | 177 |
| NWC days | — | — | 30 | -9 | 22 | 70 | 70 | 37 |
| Leverage | ||||||||
| Current ratio | — | — | 1.71 | 1.72 | 1.24 | 1.31 | 1.28 | 1.01 |
| Debt to EBITDA | — | — | 0.88 | 1.22 | 1.39 | 2.98 | 2.85 | 2.73 |
| Debt to equity | — | — | 0.15 | 0.37 | 0.4 | 0.47 | 0.33 | 0.32 |
| Interest coverage | 7.7 | 3.9 | 19.9 | 10.9 | 8.2 | 3.1 | 2.6 | 3.6 |
| Asset turnover | — | — | 0.82 | 0.94 | 0.82 | 0.67 | 0.63 | 0.59 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.2% | 9.7% | 9.1% | 3.4% | 2.5% | 3.8% |
| Return on capital employed % | — | — | 11.6% | 26.4% | 23.6% | 9.8% | 8.6% | 10.5% |
| Return on equity % | — | — | 11.2% | 16.8% | 15.5% | 5.9% | 4% | 6.2% |
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.