Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.1% | 42.3% | 44.9% | 39.9% | 38% | 21.5% | 20.9% | 23.5% |
| EBITDA margin % | 9.7% | 12.5% | 14.3% | 12.5% | 12.2% | 7.4% | 2.9% | 6.8% |
| EBIT margin % | 1.3% | 3.3% | 5.7% | 6.2% | 7.1% | 5% | 0.3% | 4.6% |
| PAT margin % | 4.7% | 4.8% | 1.9% | 7.2% | 5.2% | 22.4% | 55.1% | 13.7% |
| Working capital | ||||||||
| Receivable days | 115 | 120 | 130 | 124 | 111 | 152 | 253 | 210 |
| Inventory days | 133 | 86 | 113 | 108 | 53 | 30 | 38 | 40 |
| Payable days | 202 | 216 | 259 | 238 | 210 | 125 | 243 | 100 |
| NWC days | 47 | -10 | -16 | -7 | -47 | 57 | 48 | 150 |
| Leverage | ||||||||
| Current ratio | 1.14 | 1.11 | 1.07 | 1.14 | 1.06 | 0.84 | 1.62 | 2.47 |
| Debt to EBITDA | 1.63 | 0.83 | 0.74 | 0.81 | 0.25 | 4.56 | 3.75 | 2.14 |
| Debt to equity | 0.17 | 0.12 | 0.15 | 0.2 | 0.08 | 0.24 | 0.05 | 0.06 |
| Interest coverage | 3.6 | 3 | 2.5 | 4.4 | 3.6 | 7.5 | 0.7 | 9.3 |
| Asset turnover | 0.62 | 0.7 | 0.74 | 0.84 | 1.05 | 0.32 | 0.3 | 0.32 |
| Return ratios | ||||||||
| Return on assets % | 2.9% | 3.3% | 1.4% | 6% | 5.4% | 7.1% | 16.4% | 4.4% |
| Return on capital employed % | 7.8% | 9.5% | 8.8% | 18.2% | 19.1% | 9.8% | 1.3% | 8.3% |
| Return on equity % | 5.1% | 5.7% | 2.8% | 14.3% | 13.8% | 16% | 24.4% | 5.6% |
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.