Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 21.5% | 21.2% | 20.9% | 18.3% | 17.5% | 20% | 19.4% | 23.8% |
| EBITDA margin % | 6% | 6.2% | 7.1% | 6.1% | 7% | 8.5% | 6.8% | 9.2% |
| EBIT margin % | 3.4% | 3.7% | 4.5% | 4.2% | 5.5% | 6.9% | 5.1% | 7.3% |
| PAT margin % | 2% | 0.4% | 1.7% | 3.2% | 3.3% | 5.5% | 5.7% | 8.6% |
| Working capital | ||||||||
| Receivable days | — | — | 76 | 62 | 36 | 45 | 65 | 73 |
| Inventory days | — | — | 61 | 89 | 41 | 51 | 40 | 59 |
| Payable days | — | — | 101 | 86 | 40 | 59 | 62 | 70 |
| NWC days | — | — | 37 | 64 | 37 | 37 | 44 | 62 |
| Leverage | ||||||||
| Current ratio | — | — | 0.99 | 1.15 | 1.36 | 2.31 | 5.3 | 2.49 |
| Debt to EBITDA | — | — | 3.68 | 4.22 | 1.94 | 0.64 | 0.34 | 0.57 |
| Debt to equity | — | — | 0.95 | 0.86 | 0.51 | 0.08 | 0.01 | 0.03 |
| Interest coverage | 2 | 1.8 | 1.9 | 3.3 | 3.7 | 7.1 | 9.7 | 14.2 |
| Asset turnover | — | — | 1.21 | 1.24 | 1.83 | 1.11 | 0.52 | 0.47 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2% | 4% | 6.1% | 6.1% | 3% | 4.1% |
| Return on capital employed % | — | — | 11.7% | 17.6% | 17.4% | 16.2% | 6.9% | 6.6% |
| Return on equity % | — | — | 6% | 10.7% | 12.3% | 8.3% | 3.3% | 4.6% |
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.