Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.5% | 39.6% | 39.6% | 33.7% | 37.9% | 41.1% | 40.6% | 46.1% |
| EBITDA margin % | 5.9% | 6.4% | 6.6% | 3% | 8.2% | 6.7% | 5% | 11.7% |
| EBIT margin % | 4.1% | 3.2% | 3% | -0% | 4.3% | 2.8% | 1.7% | 8.8% |
| PAT margin % | 4.9% | 2% | 4.7% | -1.6% | 3.2% | 3.2% | 3.2% | 7.4% |
| Working capital | ||||||||
| Receivable days | 86 | 75 | 77 | 121 | 71 | 69 | 84 | 128 |
| Inventory days | 117 | 143 | 183 | 116 | 120 | 132 | 136 | 228 |
| Payable days | 8 | 16 | 16 | 25 | 19 | 17 | 25 | 42 |
| NWC days | 195 | 201 | 244 | 212 | 172 | 184 | 195 | 314 |
| Leverage | ||||||||
| Current ratio | 1.85 | 2.31 | 2.24 | 1.61 | 1.74 | 1.84 | 1.76 | 1.76 |
| Debt to EBITDA | 4.45 | 2.96 | 3.38 | 15.21 | 3.68 | 4.36 | 6.07 | 3.94 |
| Debt to equity | 0.44 | 0.28 | 0.29 | 0.75 | 0.59 | 0.49 | 0.53 | 0.53 |
| Interest coverage | 3.8 | 2.3 | 6.2 | 0.2 | 2.1 | 2.2 | 2.6 | 6.4 |
| Asset turnover | 1.07 | 1.04 | 0.92 | 0.86 | 1.08 | 0.99 | 0.99 | 0.65 |
| Return ratios | ||||||||
| Return on assets % | 5.3% | 2.1% | 4.3% | -1.3% | 3.5% | 3.2% | 3.1% | 4.8% |
| Return on capital employed % | 12.9% | 5.8% | 9% | 0.6% | 10.6% | 8.8% | 11.4% | 18.3% |
| Return on equity % | 8.2% | 3% | 6.2% | -2.6% | 6.2% | 5.3% | 5.6% | 8.5% |
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.