Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 57.8% | 60% | 61.6% | 63.7% | 58.3% | 57% | 56% | 9.9% |
| EBITDA margin % | 14.2% | 15.2% | 22.5% | 27.4% | 13.9% | 17.8% | 21.5% | -0.6% |
| EBIT margin % | 5.8% | 6% | 15.7% | 22.7% | 8.5% | 12.4% | 16.1% | -0.8% |
| PAT margin % | 13.1% | -19% | 28.3% | 27.5% | 40.2% | 9.4% | 24.1% | 73.1% |
| Working capital | ||||||||
| Receivable days | 30 | 22 | 11 | 14 | 9 | 10 | 10 | 13 |
| Inventory days | 171 | 147 | 142 | 137 | 106 | 83 | 93 | 43 |
| Payable days | 252 | 5 | 252 | 237 | 73 | 60 | 58 | 56 |
| NWC days | -50 | 164 | -98 | -86 | 42 | 33 | 45 | 0 |
| Leverage | ||||||||
| Current ratio | 0.46 | 0.43 | 0.57 | 0.68 | 0.61 | 0.51 | 0.58 | 0.67 |
| Debt to EBITDA | 6.89 | 6.02 | 3.86 | 2.13 | 4.45 | 3.36 | 2.68 | — |
| Debt to equity | 0.48 | 0.46 | 0.42 | 0.47 | 0.62 | 0.64 | 0.57 | 0.14 |
| Interest coverage | 2.2 | 1.6 | 5.4 | 7.3 | 6.2 | 2.5 | 3.7 | 2 |
| Asset turnover | 0.26 | 0.25 | 0.27 | 0.42 | 0.43 | 0.47 | 0.46 | 0.14 |
| Return ratios | ||||||||
| Return on assets % | 3.4% | -4.8% | 7.6% | 11.6% | 17.2% | 4.4% | 11.2% | 10% |
| Return on capital employed % | 8.4% | 5.5% | 17.3% | 22.3% | 25.8% | 14% | 21.9% | 2.2% |
| Return on equity % | 6.5% | -9.6% | 13.7% | 22.2% | 40.3% | 10.1% | 23.8% | 22.7% |
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.