Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 73.1% | 27.3% | 35.4% | 27.7% | 22.6% | 26.6% | 24.2% | 23% |
| EBITDA margin % | -4.8% | 2.3% | 7.5% | 13.8% | 12.1% | 14% | 14.2% | 14.1% |
| EBIT margin % | -6.9% | 0.1% | 4.3% | 9.6% | 9.8% | 11.6% | 12.6% | 12.4% |
| PAT margin % | -4.7% | 2.7% | 4.4% | 6.1% | 6.2% | 6.6% | 7.9% | 7.6% |
| Working capital | ||||||||
| Receivable days | — | — | 343 | 229 | 202 | 167 | 143 | 157 |
| Inventory days | — | — | 127 | 51 | 59 | 96 | 79 | 51 |
| Payable days | — | — | 211 | 209 | 182 | 173 | 181 | 153 |
| NWC days | — | — | 259 | 70 | 79 | 91 | 41 | 56 |
| Leverage | ||||||||
| Current ratio | — | — | 3.85 | 2.55 | 1.88 | 2.03 | 1.72 | 1.59 |
| Debt to EBITDA | — | — | 0.39 | 0.82 | 0.5 | 0.37 | 0.83 | 1.09 |
| Debt to equity | — | — | 0.01 | 0.08 | 0.08 | 0.06 | 0.2 | 0.28 |
| Interest coverage | -0.3 | 1.9 | 3.2 | 6.9 | 3.9 | 3.3 | 5 | 5 |
| Asset turnover | — | 1.53 | 0.31 | 0.5 | 0.75 | 0.73 | 0.83 | 0.9 |
| Return ratios | ||||||||
| Return on assets % | — | 4.1% | 1.3% | 3.1% | 4.7% | 4.8% | 6.6% | 6.9% |
| Return on capital employed % | — | — | 3.1% | 7.8% | 13.8% | 15.1% | 21% | 22% |
| Return on equity % | — | — | 1.6% | 4.6% | 8.3% | 8% | 13.2% | 14.1% |
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.