Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 52.2% | 43.8% | ||||
| 48% |
| 50.4% |
| 50.8% |
| 54.1% |
| EBITDA margin % | -0.3% | 12.5% | -4.4% | -1.1% | 13.4% | 19.8% | 7.3% | 11.7% |
| EBIT margin % | -0.3% | 10.3% | -9% | -3.4% | 11.8% | 17.6% | 3.9% | 9.1% |
| PAT margin % | 3.7% | 10.5% | 2.7% | 15.8% | 10.6% | 16.4% | 14.2% | 39.1% |
| Working capital | ||||||||
| Receivable days | 71 | 65 | 94 | 110 | 33 | 39 | 37 | 41 |
| Inventory days | 45 | 41 | 146 | 75 | 89 | 91 | 153 | 137 |
| Payable days | — | — | 53 | 49 | 26 | 12 | 15 | 3 |
| NWC days | — | — | 187 | 136 | 96 | 118 | 175 | 176 |
| Leverage | ||||||||
| Current ratio | 5.03 | 4.85 | 4.62 | 3 | 3.51 | 5.24 | 4.43 | 6.22 |
| Debt to EBITDA | — | — | — | — | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | — | — | 10.3 | 79.3 | 77.7 | 78.1 | 40.4 | 147.8 |
| Asset turnover | 0.96 | 1 | 0.49 | 0.76 | 1.16 | 1.04 | 0.64 | 0.56 |
| Return ratios | ||||||||
| Return on assets % | 3.5% | 10.5% | 1.3% | 12.1% | 12.3% | 17.1% | 9% | 22% |
| Return on capital employed % | 4.7% | 16.2% | 1.5% | 14.6% | 18.5% | 26% | 11.9% | 33.6% |
| Return on equity % | 3.9% | 11.9% | 1.5% | 13.9% | 13.9% | 18.9% | 9.9% | 23.4% |
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.