Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.8% | 41.8% | 38.3% | 39.7% | 41.8% | 40.8% | 41.3% | 40.2% |
| EBITDA margin % | 7.3% | 16.3% | 3.1% | 10.7% | 17.5% | 16.9% | 15.7% | 15.3% |
| EBIT margin % | 3.4% | 3.3% | -19.2% | -3.4% | 7.9% | 6.5% | 4.7% | 3.9% |
| PAT margin % | 2.3% | -4.2% | -16% | -3.5% | 3% | 1.8% | 0.2% | -1% |
| Working capital | ||||||||
| Receivable days | — | — | 7 | 6 | 3 | 6 | 3 | 3 |
| Inventory days | — | — | 290 | 245 | 233 | 236 | 269 | 248 |
| Payable days | — | — | 391 | 350 | 286 | 286 | 310 | 303 |
| NWC days | — | — | -93 | -100 | -50 | -44 | -38 | -52 |
| Leverage | ||||||||
| Current ratio | — | — | 0.82 | 0.78 | 0.8 | 0.8 | 0.84 | 0.81 |
| Debt to EBITDA | — | — | 2.81 | 0.72 | 0.15 | 0.18 | 0.38 | 0.21 |
| Debt to equity | — | — | 0.83 | 1.97 | 0.45 | 0.39 | 0.77 | 0.51 |
| Interest coverage | 10.9 | 0.7 | -0.5 | 0.4 | 1.8 | 1.5 | 1 | 0.8 |
| Asset turnover | — | — | 0.49 | 0.66 | 0.87 | 0.8 | 0.74 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | — | — | -7.8% | -2.3% | 2.6% | 1.4% | 0.1% | -0.8% |
| Return on capital employed % | — | — | -5.7% | 4.3% | 18.2% | 13.6% | 9.1% | 7.6% |
| Return on equity % | — | — | -151.5% | -88.2% | 51.4% | 22.8% | 2% | -15.5% |
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.