Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 37.1% | — | 27.2% | 21.3% | 21.8% | 30.3% | 35.3% | 28.4% |
| EBITDA margin % | 14.2% | 0.6% | 13.6% | 7.9% | 6.3% | 14.2% | 22.7% | 14% |
| EBIT margin % | 11.3% | -4% | 11.7% | 6.4% | 4.4% | 12.8% | 21.9% | 13.2% |
| PAT margin % | 6% | -5.7% | 6.9% | 5% | 2.6% | 9.1% | 15.9% | 9.2% |
| Working capital | ||||||||
| Receivable days | — | — | 103 | — | 86 | 178 | 151 | 174 |
| Inventory days | — | — | 66 | — | 92 | 110 | 70 | 78 |
| Payable days | — | — | 94 | — | 63 | 172 | 111 | 131 |
| NWC days | — | — | 75 | — | 115 | 115 | 110 | 121 |
| Leverage | ||||||||
| Current ratio | — | — | 1.56 | — | 1.76 | 1.73 | 2.11 | 2.03 |
| Debt to EBITDA | — | — | 0.67 | — | 1.23 | 0.45 | 0.23 | 1.12 |
| Debt to equity | — | — | 0.27 | — | 0.2 | 0.12 | 0.12 | 0.26 |
| Interest coverage | 3.7 | -0.6 | 7.6 | 6.1 | 2.7 | 10 | 14.2 | 7.6 |
| Asset turnover | — | — | 1.42 | — | 1.39 | 0.95 | 1.34 | 0.93 |
| Return ratios | ||||||||
| Return on assets % | — | — | 9.8% | — | 3.6% | 8.6% | 21.3% | 8.5% |
| Return on capital employed % | — | — | 32.6% | — | 12.6% | 33.2% | 63.7% | 28.1% |
| Return on equity % | — | — | 20.2% | — | 6.6% | 17.3% | 37.1% | 15.4% |
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.