Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 52.1% | 47.5% | 47% | — | — |
| EBITDA margin % | 13.5% | 19.6% | 20.8% | 13.9% | 16.1% | 17.8% | 14.2% | 14.6% |
| EBIT margin % | 13.5% | 17.2% | 16.3% | 5.5% | 11.1% | 13.8% | 7.7% | 6.9% |
| PAT margin % | 7.2% | 11.1% | 12.9% | 6.9% | 10.9% | 10.1% | 6.7% | 7.5% |
| Working capital | ||||||||
| Receivable days | 92 | 57 | — | 82 | 60 | 52 | — | — |
| Inventory days | 53 | 43 | — | 82 | 77 | 54 | — | — |
| Payable days | 3 | 2 | — | 81 | 65 | 45 | — | — |
| NWC days | 142 | 98 | — | 84 | 72 | 61 | — | — |
| Leverage | ||||||||
| Current ratio | 0.97 | 1.12 | — | 1.44 | 1.47 | 1.73 | — | — |
| Debt to EBITDA | 3.61 | 1.03 | — | 2 | 1.34 | 0.53 | — | — |
| Debt to equity | 0.73 | 0.39 | — | 0.25 | 0.27 | 0.13 | — | — |
| Interest coverage | 4.6 | 6.3 | 6.9 | 3.5 | 9 | 6.9 | 4.9 | 6.3 |
| Asset turnover | 0.65 | 0.99 | 1.97 | 0.57 | 0.78 | 0.93 | — | — |
| Return ratios | ||||||||
| Return on assets % | 4.7% | 11% | 25.4% | 3.9% | 8.6% | 9.4% | — | — |
| Return on capital employed % | 17.7% | 29.1% | — | 7.3% | 17.4% | 19.6% | — | — |
| Return on equity % | 10.7% | 21.1% | — | 6.1% | 13.5% | 14.2% | — | — |
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.