Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 51.6% | 38.7% | 54.2% | 50.9% | 56.5% | 55.1% | 58.3% |
| EBITDA margin % | 4.2% | 2.2% | -0.5% | 4.4% | 6.3% | 4.5% | 5.1% | 5.9% |
| EBIT margin % | 2.7% | 0.1% | -2.8% | 2.5% | 4.6% | 2% | 2.8% | 3.3% |
| PAT margin % | 2.6% | 0.6% | 0.1% | 2.9% | 4.9% | 3% | 4.6% | 6.4% |
| Working capital | ||||||||
| Receivable days | 48 | — | 69 | 45 | 37 | 48 | 44 | 56 |
| Inventory days | 61 | — | 102 | 189 | 91 | 133 | 116 | 156 |
| Payable days | — | — | 125 | 152 | 85 | 141 | 111 | 123 |
| NWC days | — | — | 46 | 82 | 43 | 40 | 48 | 89 |
| Leverage | ||||||||
| Current ratio | 1.15 | — | 1.33 | 1.4 | 1.39 | 1.21 | 1.48 | 1.45 |
| Debt to EBITDA | 5.46 | — | — | 5.71 | 2.96 | 5.35 | 4.27 | 4.32 |
| Debt to equity | 0.61 | — | 0.62 | 0.68 | 0.54 | 0.62 | 0.46 | 0.47 |
| Interest coverage | 2.5 | 1.4 | 0.1 | 2.1 | 2.7 | 2 | 2.9 | 3.3 |
| Asset turnover | 1.22 | — | 0.99 | 1.08 | 1.41 | 1.14 | 1.09 | 0.93 |
| Return ratios | ||||||||
| Return on assets % | 3.1% | — | 0.1% | 3.1% | 6.9% | 3.4% | 5% | 5.9% |
| Return on capital employed % | 12.6% | — | 0.5% | 11.6% | 16.7% | 12.7% | 15.5% | 16.7% |
| Return on equity % | 6.8% | — | 0.2% | 7.9% | 14.1% | 7.5% | 9.8% | 11.8% |
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.