Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 65.7% | 23.6% | 21.4% | 23.7% | 22.3% | 25.1% | 28.5% | 29.3% |
| EBITDA margin % | 5.5% | 6.9% | 6.9% | 6.3% | 6.4% | 7.1% | 7.6% | 6.4% |
| EBIT margin % | 3.7% | 5% | 5.4% | 4.8% | 4.7% | 5.1% | 5% | 4.4% |
| PAT margin % | 1.1% | 1.3% | 2.7% | 2.6% | 0.2% | 1.8% | 4.8% | 3.2% |
| Working capital | ||||||||
| Receivable days | 73 | 49 | 38 | 29 | 32 | 44 | 77 | 95 |
| Inventory days | 219 | 107 | 61 | 54 | 52 | 60 | 66 | 89 |
| Payable days | 188 | 68 | 48 | 39 | 35 | 39 | 47 | 58 |
| NWC days | 104 | 88 | 52 | 44 | 49 | 65 | 97 | 126 |
| Leverage | ||||||||
| Current ratio | 1.42 | 1.47 | 1.8 | 2.03 | 2.12 | 2.13 | 2.18 | 2.23 |
| Debt to EBITDA | 2.84 | 2.12 | 0.8 | 0.7 | 0.44 | 0.75 | 1.01 | 0.95 |
| Debt to equity | 0.32 | 0.31 | 0.14 | 0.13 | 0.1 | 0.14 | 0.13 | 0.1 |
| Interest coverage | 1.4 | 1.7 | 2.5 | 3.2 | 2.4 | 3.5 | 4.6 | 5.2 |
| Asset turnover | 1.05 | 1.15 | 1.5 | 1.84 | 2.08 | 1.68 | 1.11 | 1.05 |
| Return ratios | ||||||||
| Return on assets % | 1.1% | 1.5% | 4% | 4.8% | 0.4% | 3% | 5.3% | 3.3% |
| Return on capital employed % | 7.3% | 9.7% | 12.5% | 13.1% | 13.2% | 12.1% | 8.7% | 8.1% |
| Return on equity % | 2.2% | 2.8% | 6.6% | 7.9% | 0.6% | 4.9% | 8.2% | 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.