Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 28.4% | 30.3% | 28.7% | 30.1% | 26.1% | 29.6% |
| EBITDA margin % | 4.8% | 3.2% | 4.6% | 6.1% | 5.8% | 6.7% | 6.4% | 6.9% |
| EBIT margin % | 2.7% | 1.5% | 2.1% | 4.3% | 4.2% | 4.2% | 4.4% | 4.5% |
| PAT margin % | 1.4% | 0.6% | 0.5% | 2.6% | 1.8% | 0.7% | 2% | 1.8% |
| Working capital | ||||||||
| Receivable days | — | — | 45 | 35 | 33 | 41 | 37 | 30 |
| Inventory days | — | — | 39 | 54 | 19 | 83 | 54 | 50 |
| Payable days | — | — | 90 | 60 | 30 | 13 | 24 | 28 |
| NWC days | — | — | -6 | 28 | 22 | 111 | 68 | 53 |
| Leverage | ||||||||
| Current ratio | — | — | 1.01 | 1.42 | 1.11 | 1.29 | 0.95 | 0.86 |
| Debt to EBITDA | — | — | 5.92 | 3.95 | 4.28 | 7.5 | 5.49 | 4.43 |
| Debt to equity | — | — | 1.97 | 2.13 | 1.95 | 2.87 | 2.24 | 1.64 |
| Interest coverage | 2.6 | 1.9 | 1.3 | 2.6 | 1.9 | 1.3 | 2 | 1.9 |
| Asset turnover | — | — | 1.5 | 2.01 | 2.15 | 1.35 | 1.68 | 1.73 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.8% | 5.2% | 3.9% | 0.9% | 3.3% | 3.1% |
| Return on capital employed % | — | — | 4.8% | 15.9% | 14.5% | 9.8% | 14.2% | 14.2% |
| Return on equity % | — | — | 3.7% | 22.9% | 14.3% | 3.9% | 12.4% | 9.8% |
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.