Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 42.8% | 47% | 46.8% | 44.3% | 42.5% | 48.6% | 49.4% | 49.1% |
| EBITDA margin % | 9% | 12.6% | 10.1% | 3.9% | 5.3% | 11.9% | 12.3% | 13.1% |
| EBIT margin % | 3.6% | 7.1% | 4.7% | -1.4% | 0.3% | 7.9% | 8.3% | 8.9% |
| PAT margin % | 7.2% | 6.7% | 4.2% | 9.1% | 0.3% | 3% | 134.9% | 8.4% |
| Working capital | ||||||||
| Receivable days | 138 | 143 | 161 | 239 | 257 | 256 | 248 | 255 |
| Inventory days | 197 | 190 | 254 | 170 | 168 | 155 | 145 | 191 |
| Payable days | 2 | 7 | 271 | 213 | 220 | 166 | 163 | 225 |
| NWC days | 333 | 327 | 144 | 196 | 205 | 244 | 230 | 220 |
| Leverage | ||||||||
| Current ratio | 1.2 | 0.96 | 1.1 | 1.07 | 1.18 | 1.21 | 1.32 | 1.29 |
| Debt to EBITDA | 5.82 | 4.06 | 4.69 | 16.24 | 13.7 | 6.24 | 4.41 | 4.03 |
| Debt to equity | 0.25 | 0.27 | 0.27 | 0.37 | 0.39 | 0.45 | 0.36 | 0.35 |
| Interest coverage | 3.2 | 3.3 | 2.7 | 1.3 | 0.6 | 1.4 | 1.5 | 2.8 |
| Asset turnover | 0.33 | 0.36 | 0.36 | 0.36 | 0.33 | 0.37 | 0.43 | 0.4 |
| Return ratios | ||||||||
| Return on assets % | 2.4% | 2.4% | 1.5% | 3.3% | 0.1% | 1.1% | 57.4% | 3.4% |
| Return on capital employed % | 5.3% | 6.7% | 5.2% | 2.7% | 2.4% | 6.3% | 6.2% | 9.1% |
| Return on equity % | 3.4% | 3.5% | 2.4% | 5.3% | 0.1% | 1.8% | 90.4% | 5.6% |
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.