Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.8% | 61.6% | 60.3% | 58.9% | ||||
| 45.5% |
| 48.5% |
| 50.3% |
| 50.3% |
| EBITDA margin % | 14.5% | 16.5% | 18.4% | 20.6% | 7.7% | 10.6% | 10.4% | 10.8% |
| EBIT margin % | 9.5% | 10.5% | 12.5% | 16.5% | 2.9% | 5.6% | 4.9% | 5.4% |
| PAT margin % | 3.3% | 3.3% | 5.6% | 11.6% | 1.8% | 2.6% | 2.1% | 2.9% |
| Working capital | ||||||||
| Receivable days | 24 | 52 | 43 | 17 | 19 | 29 | 27 | 22 |
| Inventory days | 240 | 366 | 260 | 207 | 178 | 220 | 208 | 156 |
| Payable days | 90 | 98 | 107 | 145 | 92 | 103 | 75 | 72 |
| NWC days | 175 | 321 | 196 | 79 | 105 | 145 | 160 | 105 |
| Leverage | ||||||||
| Current ratio | 0.77 | 0.91 | 0.77 | 0.84 | 0.77 | 0.9 | 0.9 | 0.82 |
| Debt to EBITDA | 4.26 | 5.02 | 2.8 | 0.63 | 3.2 | 3.26 | 3.47 | 2.66 |
| Debt to equity | 1.09 | 1.29 | 0.82 | 0.26 | 0.49 | 0.67 | 0.66 | 0.55 |
| Interest coverage | 2.2 | 2.1 | 3.4 | 10.7 | 2.2 | 2.8 | 2.2 | 3.3 |
| Asset turnover | 0.58 | 0.49 | 0.6 | 0.88 | 0.82 | 0.77 | 0.77 | 0.83 |
| Return ratios | ||||||||
| Return on assets % | 1.9% | 1.6% | 3.3% | 10.2% | 1.5% | 2% | 1.6% | 2.4% |
| Return on capital employed % | 9.5% | 9.6% | 12.8% | 24.3% | 5.6% | 8.6% | 7.2% | 8.1% |
| Return on equity % | 5.7% | 5.1% | 8.9% | 23.1% | 3.6% | 5% | 3.9% | 5.6% |
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.