Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 42.1% | 49.1% | 51.6% | 51.2% | ||||
| 57% |
| 59.3% |
| 42.8% |
| 42.4% |
| EBITDA margin % | 9.7% | -3.3% | 4.4% | 11.2% | 12.8% | 21.5% | 13.9% | 10% |
| EBIT margin % | 8% | -6.5% | 0.4% | 6.5% | 7.9% | 17.3% | 11.1% | 7% |
| PAT margin % | 4.9% | -6.1% | -7.1% | 2.8% | 3.3% | 10.4% | 6.8% | 11.8% |
| Working capital | ||||||||
| Receivable days | — | — | 107 | 129 | 97 | 98 | 33 | 50 |
| Inventory days | — | — | 182 | 141 | 335 | 290 | 235 | 168 |
| Payable days | — | — | 84 | 79 | 66 | 51 | 178 | 68 |
| NWC days | — | — | 206 | 191 | 365 | 336 | 90 | 150 |
| Leverage | ||||||||
| Current ratio | — | — | 1.13 | 1.07 | 1.08 | 1.25 | 1.26 | 1.6 |
| Debt to EBITDA | — | — | 9.19 | 3.61 | 3.38 | 1.12 | 0.77 | 0.94 |
| Debt to equity | — | — | 0.33 | 0.42 | 0.45 | 0.3 | 0.18 | 0.13 |
| Interest coverage | 4 | -1.5 | 0.2 | 2 | 2 | 4.7 | 4.4 | 19 |
| Asset turnover | — | — | 0.52 | 0.62 | 0.56 | 0.61 | 0.79 | 0.8 |
| Return ratios | ||||||||
| Return on assets % | — | — | -3.7% | 1.7% | 1.9% | 6.3% | 5.4% | 9.4% |
| Return on capital employed % | — | — | 0.7% | 7.2% | 8.6% | 21.8% | 18.2% | 23% |
| Return on equity % | — | — | -5.8% | 3% | 3.4% | 12.8% | 11.6% | 15.9% |
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.