Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 56.2% | 18% | 25.7% | 22.8% | 33.4% | 32.6% | 29.5% | 34.9% |
| EBITDA margin % | 3.3% | 0.1% | 8.2% | 5.2% | 18.9% | 17.9% | 11.9% | 21.2% |
| EBIT margin % | 1% | -2.4% | 4.4% | 2% | 17.3% | 16.3% | 9.1% | 19.2% |
| PAT margin % | 2.1% | 1.9% | 6.4% | 2.7% | 11.5% | 12.2% | 7.1% | 13.3% |
| Working capital | ||||||||
| Receivable days | — | — | 18 | 26 | 20 | 14 | 21 | 29 |
| Inventory days | — | — | 156 | 151 | 96 | 86 | 105 | 85 |
| Payable days | — | — | 29 | 21 | 20 | 17 | 23 | 22 |
| NWC days | — | — | 145 | 156 | 95 | 83 | 103 | 91 |
| Leverage | ||||||||
| Current ratio | — | — | 1.68 | 1.61 | 2.1 | 2.4 | 2.51 | 2.87 |
| Debt to EBITDA | — | — | 3.21 | 5.72 | 0.76 | 1.18 | 2.55 | 0.87 |
| Debt to equity | — | — | 0.57 | 0.74 | 0.49 | 0.53 | 0.5 | 0.36 |
| Interest coverage | 3.4 | 3.5 | 6.3 | 4.1 | 14.1 | 11.9 | 5.5 | 13.2 |
| Asset turnover | — | — | 1.21 | 1.28 | 2 | 1.5 | 1.02 | 1.29 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.7% | 3.5% | 23% | 18.2% | 7.2% | 17.2% |
| Return on capital employed % | — | — | 18.7% | 10.9% | 62.1% | 44.2% | 16.3% | 35.6% |
| Return on equity % | — | — | 13.9% | 6.7% | 39.3% | 30.8% | 11.7% | 25.8% |
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.