Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 49.3% | 51.5% | 53.6% | 49% | 54.4% | -10.2% | 17.6% | 13.4% |
| EBITDA margin % | 14.9% | 21.6% | 21.6% | 17.5% | 17.9% | -34.1% | -2.7% | 4.4% |
| EBIT margin % | 14.1% | 20.7% | 20.6% | 16.6% | 17% | -35.7% | -3.8% | 3.7% |
| PAT margin % | 12.4% | 16.3% | 13.8% | 11.1% | 11.7% | -31.4% | -4% | 3.6% |
| Working capital | ||||||||
| Receivable days | 171 | 158 | 191 | — | 119 | 80 | 89 | 42 |
| Inventory days | 125 | 228 | 427 | — | 430 | 0 | 5 | 4 |
| Payable days | — | — | — | — | 166 | 135 | 110 | 91 |
| NWC days | — | — | — | — | 384 | -55 | -16 | -45 |
| Leverage | ||||||||
| Current ratio | 3.32 | 1.61 | 1.67 | — | 2.07 | 1.34 | 1.2 | 1.3 |
| Debt to EBITDA | 1.48 | 1.03 | 2 | — | 1.67 | — | — | 2.6 |
| Debt to equity | 0.1 | 0.1 | 0.2 | — | 0.16 | 0.27 | 0.65 | 0.36 |
| Interest coverage | 6.6 | 25.4 | 7.5 | 4.6 | 6 | -18 | -0.4 | 2.4 |
| Asset turnover | 0.43 | 0.35 | 0.31 | — | 0.38 | 0.59 | 0.77 | 1.22 |
| Return ratios | ||||||||
| Return on assets % | 5.3% | 5.7% | 4.3% | — | 4.4% | -18.5% | -3% | 4.3% |
| Return on capital employed % | 7.5% | 10.9% | 10.7% | — | 10.7% | -22.7% | -3.4% | 17.3% |
| Return on equity % | 5.9% | 7.1% | 6.4% | — | 6.2% | -47.4% | -9.6% | 11.2% |
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.