Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 10.6% | 7.8% | 8.7% | 11.7% | 8.8% | 15.8% |
| EBITDA margin % | -3% | 1.2% | 3% | -1.6% | 2.4% | -0.5% | -4.1% | 6% |
| EBIT margin % | -3% | 0.7% | 2.4% | -2% | 2.2% | -1.2% | -5% | 5.6% |
| PAT margin % | 1.6% | 1% | 3% | 0.3% | 2.5% | 1% | 0.6% | 3.3% |
| Working capital | ||||||||
| Receivable days | — | — | 110 | 71 | 96 | 81 | 100 | 109 |
| Inventory days | — | — | 46 | 28 | 38 | 65 | 50 | 27 |
| Payable days | — | — | 96 | 21 | 87 | 99 | 92 | 83 |
| NWC days | — | — | 59 | 78 | 46 | 47 | 58 | 53 |
| Leverage | ||||||||
| Current ratio | — | — | 2.11 | 5.79 | 2.68 | 2.43 | 2.54 | 2.19 |
| Debt to EBITDA | — | — | 3.61 | — | 5.71 | — | — | 3.68 |
| Debt to equity | — | — | 0.16 | 0.14 | 0.24 | 0.42 | 0.33 | 0.47 |
| Interest coverage | — | — | 6.1 | 1.2 | 3.1 | 1.4 | 1.3 | 2.7 |
| Asset turnover | — | — | 0.93 | 0.91 | 1.07 | 0.91 | 0.82 | 1.11 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2.8% | 0.2% | 2.7% | 0.9% | 0.5% | 3.7% |
| Return on capital employed % | — | — | 7.1% | 2.5% | 8.6% | 5.8% | 4.9% | 11.6% |
| Return on equity % | — | — | 4.3% | 0.3% | 4.4% | 1.7% | 0.8% | 7.1% |
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.