Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 44.6% | 44% | 43.3% | 41.8% | — | — |
| EBITDA margin % | 4.7% | 1.3% | -2.6% | 2.9% | 10% | 7.7% | 8.9% | 14.3% |
| EBIT margin % | 4% | 0.1% | -5.1% | 1.5% | 9% | 6.9% | 8.3% | 13.9% |
| PAT margin % | 3.1% | -0.7% | -5.7% | 1.2% | 12.1% | 5% | 5.8% | 9.5% |
| Working capital | ||||||||
| Receivable days | — | — | 98 | 67 | 50 | 45 | — | — |
| Inventory days | — | — | 155 | 132 | 161 | 159 | — | — |
| Payable days | — | — | 275 | 141 | 111 | 108 | — | — |
| NWC days | — | — | -21 | 58 | 100 | 96 | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 1.14 | 1.17 | 1.47 | 1.85 | — | — |
| Debt to EBITDA | — | — | — | 3.12 | 0.64 | 0.06 | — | — |
| Debt to equity | — | — | 0.23 | 1.53 | 0.41 | 0.02 | — | — |
| Interest coverage | 6.3 | 0.4 | -2.7 | 2.7 | 6.6 | 8.2 | 12.8 | 20.5 |
| Asset turnover | — | — | 1.33 | 2.03 | 1.97 | 2.08 | — | — |
| Return ratios | ||||||||
| Return on assets % | — | — | -7.6% | 2.5% | 23.9% | 10.4% | — | — |
| Return on capital employed % | — | — | -19% | 15.6% | 58.1% | 32.7% | — | — |
| Return on equity % | — | — | -63.8% | 20.7% | 76.9% | 25.6% | — | — |
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.