Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.7% | 46.4% | 56.8% | 53.1% | 41.8% | 41.6% | 39.5% | 51% |
| EBITDA margin % | 7.4% | 7.6% | 14.4% | 13.7% | 6% | 4.4% | 3.5% | 9% |
| EBIT margin % | 5.7% | 5.9% | 12.4% | 12.4% | 5% | 3% | 2.1% | 7.2% |
| PAT margin % | 4.4% | 4.5% | 10.6% | 9.5% | 4.2% | 2.6% | 2.8% | 6.1% |
| Working capital | ||||||||
| Receivable days | 21 | 15 | 26 | 23 | 24 | 21 | 17 | 7 |
| Inventory days | 42 | 44 | 60 | 61 | 49 | 46 | 34 | 132 |
| Payable days | 0 | 29 | 31 | 27 | 27 | 38 | 26 | 30 |
| NWC days | 62 | 29 | 55 | 57 | 46 | 29 | 26 | 109 |
| Leverage | ||||||||
| Current ratio | 1.65 | 1.63 | 2.52 | 3.38 | 2.85 | 3.49 | 1.65 | 1.14 |
| Debt to EBITDA | 0.44 | 0.39 | 0.27 | 0.17 | 0.48 | 0.05 | 1.88 | 3.41 |
| Debt to equity | 0.1 | 0.08 | 0.08 | 0.06 | 0.08 | 0 | 0.14 | 0.49 |
| Interest coverage | 11.5 | 8.5 | 21.1 | 40.9 | 18.5 | 10.9 | 9.4 | 7.9 |
| Asset turnover | 2.03 | 1.91 | 1.5 | 1.92 | 2.05 | 1.63 | 1.43 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | 8.9% | 8.6% | 16% | 18.2% | 8.5% | 4.2% | 4% | 5.6% |
| Return on capital employed % | 18.4% | 16.7% | 27.2% | 33.8% | 15.4% | 9.1% | 6.2% | 11.8% |
| Return on equity % | 13.3% | 12.2% | 21.8% | 24.1% | 11.6% | 5.4% | 6.2% | 9.7% |
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.