Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 22.7% | — | 28.7% | 27.8% | 22.7% | 22.5% | 24.2% | 27.1% |
| EBITDA margin % | 5.8% | 8.8% | 11.6% | 10.8% | 9.5% | 11.7% | 11.4% | 11.7% |
| EBIT margin % | 5.2% | 7.6% | 10.1% | 9.5% | 8.7% | 11% | 10.6% | 10.1% |
| PAT margin % | -25.4% | -6% | 4.9% | 5.4% | 3.7% | 7.7% | 7.9% | 4.8% |
| Working capital | ||||||||
| Receivable days | — | — | 50 | 71 | 37 | 50 | 63 | 72 |
| Inventory days | — | — | 99 | 107 | 78 | 64 | 65 | 90 |
| Payable days | — | — | 67 | 78 | 55 | 39 | 29 | 51 |
| NWC days | — | — | 82 | 99 | 60 | 75 | 99 | 111 |
| Leverage | ||||||||
| Current ratio | — | — | 2.35 | 1.22 | 1.27 | 2.71 | 1.98 | 1.73 |
| Debt to EBITDA | — | — | 0.86 | 0.75 | 0.94 | 0.15 | 1.21 | 1.42 |
| Debt to equity | — | — | 0.12 | 0.12 | 0.26 | 0.03 | 0.21 | 0.21 |
| Interest coverage | 3.6 | 2.4 | 2.1 | 2.9 | 3.5 | 6.4 | 6.6 | 5.2 |
| Asset turnover | — | — | 0.72 | 0.84 | 1.37 | 1.19 | 1.02 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.5% | 4.5% | 5.1% | 9.2% | 8% | 3.7% |
| Return on capital employed % | — | — | 9.9% | 14.7% | 25.7% | 25.8% | 18.7% | 13.2% |
| Return on equity % | — | — | 5.8% | 8.3% | 10.7% | 13.3% | 12% | 6.1% |
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.