Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 76.1% | 71.7% | 74.3% | 75.4% | ||||
| 73.1% |
| 66.9% |
| 97.4% |
| 96.6% |
| EBITDA margin % | 8.3% | 18.3% | 21.2% | 15% | 14.9% | 10.5% | 14.4% | 11% |
| EBIT margin % | 4.3% | 15.6% | 17.5% | 10.8% | 11% | 6.7% | 11.8% | 8.7% |
| PAT margin % | 0.2% | 6% | 10.2% | 10% | 7.7% | 3.6% | 10.8% | 7% |
| Working capital | ||||||||
| Receivable days | 27 | 31 | 33 | 40 | 49 | 63 | 0 | 1 |
| Inventory days | 514 | 430 | 489 | 604 | 582 | 546 | 703 | 472 |
| Payable days | 93 | — | 45 | 116 | 106 | 133 | 371 | 256 |
| NWC days | 448 | — | 478 | 528 | 525 | 475 | 332 | 218 |
| Leverage | ||||||||
| Current ratio | 0.74 | 0.75 | 0.88 | 1.02 | 1.12 | 1.1 | 0.92 | 0.95 |
| Debt to EBITDA | 6.13 | 3.28 | 2.59 | 3.42 | 3.08 | 5.06 | 3.31 | 2.59 |
| Debt to equity | 0.75 | 1 | 0.82 | 0.62 | 0.56 | 0.65 | 0.45 | 0.32 |
| Interest coverage | 1 | 4.8 | 3.6 | 3.7 | 3.6 | 2.1 | 6.6 | 3.6 |
| Asset turnover | 0.74 | 0.71 | 0.74 | 0.67 | 0.69 | 0.64 | 0.59 | 0.77 |
| Return ratios | ||||||||
| Return on assets % | 0.2% | 4.3% | 7.5% | 6.6% | 5.3% | 2.3% | 6.4% | 5.4% |
| Return on capital employed % | 6.1% | 24.7% | 24% | 13.9% | 14.8% | 9.9% | 9.3% | 10.3% |
| Return on equity % | 0.3% | 10% | 15.2% | 12.1% | 9.5% | 4.4% | 10.4% | 7.9% |
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.