Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 24.4% | 17.9% | 19.1% | 17.6% | 15.7% | 15.7% |
| EBITDA margin % | 3% | -9.3% | 7.8% | 2.8% | 1.8% | 0.4% | 1.1% | 1.3% |
| EBIT margin % | 3% | -10.1% | 7.1% | 2.3% | 1.3% | 0% | 0.9% | 1.1% |
| PAT margin % | 1.3% | -7.7% | 3.9% | 2.6% | 1% | 0.1% | 0.7% | 0.6% |
| Working capital | ||||||||
| Receivable days | 11 | — | 9 | 8 | 10 | 10 | 7 | 8 |
| Inventory days | 56 | — | 57 | 56 | 88 | 76 | 72 | 62 |
| Payable days | 48 | — | 61 | 49 | 64 | 63 | 52 | 39 |
| NWC days | 19 | — | 5 | 15 | 33 | 23 | 27 | 32 |
| Leverage | ||||||||
| Current ratio | 1.08 | — | 0.93 | 1.03 | 1.04 | 1.04 | 1.1 | 1.27 |
| Debt to EBITDA | 3.07 | — | 1.1 | 2.52 | 4.5 | 18.88 | 4.61 | 3.01 |
| Debt to equity | 1.14 | — | 1.67 | 1.04 | 1 | 1.16 | 1.04 | 0.59 |
| Interest coverage | 5.1 | -23.4 | 13.2 | 4.7 | 2.4 | 1.3 | 8.4 | 2.8 |
| Asset turnover | 3.1 | — | 3.5 | 3.84 | 3.14 | 3.48 | 4.39 | 4.92 |
| Return ratios | ||||||||
| Return on assets % | 3.9% | — | 13.6% | 10.1% | 3% | 0.2% | 3.1% | 2.8% |
| Return on capital employed % | 36.5% | — | 136.9% | 41.1% | 17.1% | 7.6% | 24.6% | 23.3% |
| Return on equity % | 15.8% | — | 76% | 38.7% | 11.6% | 1% | 14.5% | 8.7% |
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.