Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 5.6% | 5.6% | 4.6% | 4.7% | 5% | 0% |
| EBITDA margin % | 2.8% | 3.3% | 2.4% | 2.8% | 2.5% | 2.6% | 2.8% | -8.5% |
| EBIT margin % | 2.4% | 2.5% | 1.5% | 2.4% | 2.2% | 2.4% | 2.6% | -10% |
| PAT margin % | 0.7% | 1.1% | 0.5% | 1.2% | 1.4% | 1.4% | 1.4% | -5.3% |
| Working capital | ||||||||
| Receivable days | — | — | 52 | 53 | 45 | 48 | 53 | 0 |
| Inventory days | — | — | 49 | 47 | 32 | 27 | 28 | 0 |
| Payable days | — | — | 37 | 50 | 48 | 46 | 52 | 0 |
| NWC days | — | — | 64 | 50 | 29 | 29 | 29 | -0 |
| Leverage | ||||||||
| Current ratio | — | — | 1.71 | 1.61 | 1.48 | 1.52 | 1.51 | 0.54 |
| Debt to EBITDA | — | — | 3.81 | 2.13 | 1.1 | 0.59 | 0.38 | — |
| Debt to equity | — | — | 0.51 | 0.37 | 0.24 | 0.13 | 0.08 | 0 |
| Interest coverage | 1.7 | 2.1 | 1.6 | 2.7 | 4.5 | 3.9 | 3.3 | -641 |
| Asset turnover | — | — | 2.6 | 2.74 | 3.63 | 3.72 | 3.59 | 0.51 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.3% | 3.2% | 5.1% | 5.3% | 5% | -2.7% |
| Return on capital employed % | — | — | 8% | 12.8% | 19.8% | 21.6% | 21.5% | -1.4% |
| Return on equity % | — | — | 2.9% | 7.2% | 12.4% | 11.6% | 10.9% | -2.9% |
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.