Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.8% | 36.6% | 36.1% | 35.2% | 35.1% | 36.2% | 42.4% | 41% |
| EBITDA margin % | 10.3% | 7.3% | 7.8% | 8.2% | 10.2% | 8.4% | 8.6% | 8.9% |
| EBIT margin % | 6.4% | 2.5% | 3.2% | 4.2% | 6.8% | 4.6% | 4.8% | 5.2% |
| PAT margin % | 3.5% | -2.2% | -4.4% | 2.4% | -6% | 0.7% | 1.5% | 2.9% |
| Working capital | ||||||||
| Receivable days | 58 | 54 | 77 | 7,351 | 65 | 58 | 76 | 75 |
| Inventory days | 65 | 70 | 66 | 6,916 | 61 | 64 | 81 | 80 |
| Payable days | — | — | 131 | 10,573 | 86 | 76 | 93 | 88 |
| NWC days | — | — | 12 | 3,694 | 41 | 46 | 64 | 67 |
| Leverage | ||||||||
| Current ratio | 0.98 | 0.82 | 0.79 | 0.89 | 0.93 | 0.85 | 0.98 | 0.91 |
| Debt to EBITDA | 2.01 | 3.74 | 2.93 | 305.26 | 2.42 | 3.89 | 2.6 | 1.84 |
| Debt to equity | 0.91 | 0.99 | 0.85 | 1.03 | 2.13 | 2.68 | 1.1 | 0.82 |
| Interest coverage | 3.5 | 1.4 | 1.7 | 3.5 | 5.6 | 2 | 2.4 | 3.6 |
| Asset turnover | 1.56 | 1.27 | 1.21 | 0.01 | 1.8 | 1.58 | 1.5 | 1.53 |
| Return ratios | ||||||||
| Return on assets % | 5.4% | -2.8% | -5.4% | 0% | -10.8% | 1.1% | 2.2% | 4.4% |
| Return on capital employed % | 23.3% | 10.2% | 9.3% | 0.1% | 0.6% | 37.3% | 23.3% | 22.4% |
| Return on equity % | 15.2% | -8.1% | -16.4% | 0.1% | -51.4% | 5.7% | 7.2% | 14.4% |
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.