Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 38.6% | 37.5% | 36.7% | 35% | 35.6% | 37% | 30.2% | 25.8% |
| EBITDA margin % | 9.3% | 10% | 13% | 10.5% | 14.2% | 14.3% | 7.2% | 2.4% |
| EBIT margin % | 7.1% | 6.1% | 9.4% | 7.1% | 11.1% | 11.6% | 4.9% | 0.1% |
| PAT margin % | 6.5% | 3.9% | 10.5% | 5.3% | 5.9% | 10% | -1.2% | 2.6% |
| Working capital | ||||||||
| Receivable days | — | 74 | 96 | 73 | 59 | 66 | 52 | 66 |
| Inventory days | — | 144 | 133 | 180 | 229 | 261 | 182 | 132 |
| Payable days | — | 194 | 206 | 227 | 186 | 186 | 147 | 115 |
| NWC days | — | 24 | 23 | 26 | 103 | 140 | 88 | 84 |
| Leverage | ||||||||
| Current ratio | — | 1.15 | 1.21 | 1.16 | 1.36 | 1.5 | 1.26 | 1.03 |
| Debt to EBITDA | — | 0.96 | 0.5 | 0.25 | 0.76 | 0.51 | 3.61 | 14.13 |
| Debt to equity | — | 0.12 | 0.08 | 0.04 | 0.15 | 0.09 | 0.4 | 0.58 |
| Interest coverage | 10.6 | 3.8 | 16.9 | 17.9 | 22.6 | 19 | 3.8 | 1.3 |
| Asset turnover | — | 0.76 | 0.74 | 0.79 | 0.81 | 0.78 | 0.79 | 0.83 |
| Return ratios | ||||||||
| Return on assets % | — | 3% | 7.7% | 4.2% | 4.8% | 7.9% | -0.9% | 2.2% |
| Return on capital employed % | — | 8.7% | 16.8% | 10.8% | 17.2% | 17.9% | 8.6% | 3.9% |
| Return on equity % | — | 5% | 12.6% | 7.1% | 8.1% | 12.4% | -1.8% | 4.5% |
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.