Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.5% | 43.4% | 45.1% | 44.9% | 43.4% | 39.4% | 38.5% | 39.4% |
| EBITDA margin % | 8.7% | 9.1% | 9.1% | 12.6% | 11.1% | 7.7% | 7.9% | 9.8% |
| EBIT margin % | 4.4% | 4.5% | 3.2% | 9.7% | 8.2% | 4.2% | 4.2% | 6.9% |
| PAT margin % | 0.8% | 0.8% | 0.4% | 5.8% | 5% | 1.4% | 1% | 2.7% |
| Working capital | ||||||||
| Receivable days | — | — | 79 | 56 | 47 | 63 | 64 | 75 |
| Inventory days | — | — | 182 | 143 | 121 | 148 | 117 | 107 |
| Payable days | — | — | 57 | 36 | 53 | 95 | 123 | 131 |
| NWC days | — | — | 205 | 163 | 115 | 116 | 58 | 50 |
| Leverage | ||||||||
| Current ratio | — | — | 1.33 | 1.16 | 1.23 | 1.27 | 1.19 | 1.11 |
| Debt to EBITDA | — | — | 4.17 | 2.48 | 2.68 | 4.95 | 4.73 | 3.92 |
| Debt to equity | — | — | 0.92 | 1.1 | 0.91 | 1.02 | 1.06 | 1.13 |
| Interest coverage | 1.4 | 1.3 | 1.1 | 5.1 | 4.5 | 1.9 | 1.5 | 2.1 |
| Asset turnover | — | — | 0.96 | 1.34 | 1.29 | 1 | 0.99 | 0.98 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.4% | 7.7% | 6.4% | 1.4% | 1% | 2.6% |
| Return on capital employed % | — | — | 6.5% | 28.3% | 22.2% | 8.9% | 8.2% | 13.1% |
| Return on equity % | — | — | 1% | 20.3% | 15.2% | 3.9% | 2.7% | 8% |
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.