Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 7.2% | 11% | 11.8% | 11.2% | 10.3% | 11.5% |
| EBITDA margin % | 6.1% | 2.9% | 2.3% | 5.3% | 5.3% | 4.8% | 5.1% | 7.2% |
| EBIT margin % | 5.6% | 2.3% | 1.5% | 4.7% | 4.6% | 4.2% | 4.6% | 6.5% |
| PAT margin % | 3.2% | 1.3% | 1.1% | 3.3% | 3.3% | 2.6% | 3.2% | 4.7% |
| Working capital | ||||||||
| Receivable days | 31 | — | 40 | 22 | 25 | 24 | 23 | 33 |
| Inventory days | 41 | — | 48 | 41 | 42 | 33 | 47 | 38 |
| Payable days | 2 | — | 3 | 2 | 2 | 3 | 4 | 2 |
| NWC days | 70 | — | 85 | 61 | 65 | 55 | 65 | 68 |
| Leverage | ||||||||
| Current ratio | 1.65 | — | 1.87 | 2.33 | 1.64 | 2.58 | 3.62 | 3.65 |
| Debt to EBITDA | 2.17 | — | 6.23 | 1.39 | 1.81 | 1.3 | 0.99 | 0.72 |
| Debt to equity | 1.07 | — | 0.9 | 0.51 | 0.56 | 0.27 | 0.17 | 0.19 |
| Interest coverage | 5.6 | 3.1 | 4.1 | 8.6 | 10.6 | 4.2 | 8.3 | 20 |
| Asset turnover | 3.73 | — | 3.15 | 4.41 | 3.39 | 3.24 | 2.77 | 2.96 |
| Return ratios | ||||||||
| Return on assets % | 12% | — | 3.4% | 14.6% | 11.3% | 8.4% | 8.9% | 14% |
| Return on capital employed % | 52.2% | — | 10.1% | 36.5% | 30.3% | 21.9% | 20.1% | 28.1% |
| Return on equity % | 25.9% | — | 6.7% | 23.2% | 19.4% | 11.1% | 10.9% | 17.3% |
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.