Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | 48.2% | 30.6% | 28.8% | 28.4% | 30.9% | 31.4% |
| EBITDA margin % | 8.4% | 11.5% | 7.2% | 6.3% | 6.1% | 6.1% | 6.6% |
| EBIT margin % | 8.4% | 9.8% | 6.2% | 5.6% | 5.2% | 5.4% | 6.1% |
| PAT margin % | 3% | 4.2% | 2.3% | 3.2% | 1.8% | 2.7% | 3.1% |
| Working capital | |||||||
| Receivable days | 66 | 43 | 4 | 29 | 19 | 21 | 28 |
| Inventory days | 65 | 135 | 58 | 106 | 77 | 113 | 116 |
| Payable days | 60 | 109 | 45 | 54 | 49 | 50 | 110 |
| NWC days | 71 | 69 | 18 | 81 | 46 | 84 | 33 |
| Leverage | |||||||
| Current ratio | 1.76 | 0.94 | 1.39 | 1.39 | 1.79 | 1.68 | 1.48 |
| Debt to EBITDA | 3.13 | 2.13 | 1.66 | 3.47 | 2.63 | 2.31 | 2.47 |
| Debt to equity | 0.26 | 0.2 | 0.18 | 0.39 | 0.22 | 0.2 | 0.26 |
| Interest coverage | 1.5 | 2.2 | 2.3 | 2.9 | 1.9 | 2.6 | 2.8 |
| Asset turnover | 0.65 | 0.56 | 1.04 | 1.03 | 0.95 | 1 | 0.95 |
| Return ratios | |||||||
| Return on assets % | 2% | 2.4% | 2.4% | 3.3% | 1.7% | 2.7% | 3% |
| Return on capital employed % | 6.9% | 7.8% | 8.9% | 10.5% | 6.7% | 7.9% | 9.7% |
| Return on equity % | 2.9% | 3.4% | 3.5% | 5.6% | 2.4% | 3.9% | 4.9% |
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.