Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 11.8% | 13.2% | 12.5% | ||||
| 10.9% |
| 12.3% |
| 15.6% |
| 13% |
| EBITDA margin % | 1% | 3.1% | 5.9% | 6.1% | 4.1% | 4% | 5.7% | 4.4% |
| EBIT margin % | -0.1% | 2% | 5% | 5.6% | 3.6% | 3.2% | 4.9% | 3.7% |
| PAT margin % | 0.6% | 58.5% | 4.2% | 3.3% | 2.8% | 2.4% | 3.8% | 4.5% |
| Working capital | ||||||||
| Receivable days | 8 | 8 | 10 | 12 | 18 | 17 | 17 | 22 |
| Inventory days | 37 | 43 | 61 | 50 | 53 | 49 | 79 | 76 |
| Payable days | — | — | 17 | 15 | 17 | 21 | 33 | 24 |
| NWC days | — | — | 54 | 47 | 54 | 45 | 63 | 74 |
| Leverage | ||||||||
| Current ratio | 0.2 | 2.14 | 2.13 | 2.82 | 2.44 | 2.57 | 2.29 | 2.14 |
| Debt to EBITDA | 56.89 | 8.94 | 3.84 | 2.48 | 1.14 | 0.82 | 0.4 | 1.59 |
| Debt to equity | -1.63 | 1.06 | 0.9 | 0.6 | 0.15 | 0.1 | 0.07 | 0.21 |
| Interest coverage | 12 | 2.9 | 2.4 | 4 | 5.9 | 6.6 | 21.4 | 12.9 |
| Asset turnover | 1.6 | 1.67 | 1.81 | 2.11 | 2.38 | 2.39 | 2.2 | 2.14 |
| Return ratios | ||||||||
| Return on assets % | 1% | 97.5% | 7.6% | 7% | 6.7% | 5.8% | 8.4% | 9.7% |
| Return on capital employed % | -1.9% | 4.9% | 12.7% | 17.3% | 14.7% | 12.3% | 16.7% | 13.7% |
| Return on equity % | -1.7% | 227.6% | 16.8% | 13.1% | 9% | 7.5% | 11.4% | 13.9% |
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.