Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 41.9% | — | — | — | — |
| EBITDA margin % | 15.6% | 25.8% | 31.3% | 30.6% | 26.9% | 28.2% | 31.6% | 38% |
| EBIT margin % | -1.2% | 10.6% | 14.3% | 17.9% | 13.9% | 10.6% | 14.6% | 19.5% |
| PAT margin % | -3.1% | 6.8% | 16.7% | 15.9% | 13.8% | 12.1% | 14.6% | 23% |
| Working capital | ||||||||
| Receivable days | — | — | 62 | 47 | 64 | 102 | 78 | 75 |
| Inventory days | — | — | 13 | 22 | 13 | 18 | 18 | 28 |
| Payable days | — | — | 119 | 156 | 120 | 135 | 77 | 123 |
| NWC days | — | — | -45 | -87 | -43 | -15 | 19 | -20 |
| Leverage | ||||||||
| Current ratio | — | — | 1.04 | 0.81 | 0.96 | 1.25 | 2.18 | 2.22 |
| Debt to EBITDA | — | — | 2.66 | 2.08 | 1.66 | 2.03 | 1.09 | 1.13 |
| Debt to equity | — | — | 0.39 | 0.57 | 0.41 | 0.42 | 0.25 | 0.29 |
| Interest coverage | 0.7 | 2 | 31.1 | 6.3 | 5 | 4.4 | 5.4 | 9.1 |
| Asset turnover | — | — | 0.28 | 0.48 | 0.53 | 0.44 | 0.5 | 0.45 |
| Return ratios | ||||||||
| Return on assets % | — | — | 4.7% | 7.6% | 7.3% | 5.3% | 7.3% | 10.4% |
| Return on capital employed % | — | — | 6% | 10.6% | 11.5% | 9% | 11.1% | 15.6% |
| Return on equity % | — | — | 7.8% | 14.3% | 12.6% | 8.8% | 10.5% | 15.6% |
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.