Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 9.6% | 9.2% | 10.2% | 11.6% | — | — | — | — |
| EBITDA margin % | 0.7% | 0.8% | 1.9% | 3.4% | 3.8% | 3.4% | 3.5% | 4.1% |
| EBIT margin % | 0.4% | 0.4% | 0.8% | 2% | 2.4% | 2% | 2.4% | 3.1% |
| PAT margin % | 1.1% | 0.4% | 0.5% | 1.7% | 0.2% | 3.9% | 1.9% | 2.7% |
| Working capital | ||||||||
| Receivable days | 74 | 84 | 88 | 102 | — | — | 63 | 66 |
| Inventory days | 41 | 39 | 46 | 46 | — | — | 51 | 43 |
| Payable days | 32 | 38 | 23 | 11 | — | — | — | — |
| NWC days | 83 | 85 | 110 | 137 | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 16.73 | 15.78 | 3.93 | 2.58 | — | — | 2.51 | 2.57 |
| Debt to equity | 0.18 | 0.17 | 0.08 | 0.08 | — | — | 0.1 | 0.13 |
| Interest coverage | 2 | 1.7 | 1.9 | 3.3 | 4.3 | 3.5 | 3.3 | 4.4 |
| Asset turnover | 1.12 | 1.06 | 0.97 | 0.78 | — | — | 0.94 | 1.02 |
| Return ratios | ||||||||
| Return on assets % | 1.3% | 0.4% | 0.5% | 1.3% | — | — | 1.8% | 2.7% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 1.7% | 0.6% | 0.6% | 1.6% | — | — | 2.2% | 3.4% |
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.