Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 8.5% | 6.4% | 6.5% | 7.6% | — |
| EBITDA margin % | 2.5% | 2.3% | 2.5% | 3.8% | 2.6% | 0.9% | 0.2% | 1.5% |
| EBIT margin % | 2.3% | 2.2% | 2.3% | 3.7% | 2.6% | 0.8% | 0.1% | 1.3% |
| PAT margin % | 1.2% | 1% | 1.4% | 3.1% | 2% | 0.6% | 0.1% | 1% |
| Working capital | ||||||||
| Receivable days | — | — | — | 7 | 6 | 6 | 4 | — |
| Inventory days | — | — | — | 19 | 19 | 12 | 15 | — |
| Payable days | — | — | — | 7 | 4 | 5 | 5 | — |
| NWC days | — | — | — | 19 | 21 | 14 | 14 | — |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.8 | 1.97 | 2.73 | 5.19 | — |
| Debt to EBITDA | — | — | — | 1.47 | 2.05 | 1.79 | 2.11 | — |
| Debt to equity | — | — | — | 0.54 | 0.55 | 0.13 | 0.03 | — |
| Interest coverage | 5.1 | 3 | 4.4 | -18.3 | 17.8 | 5.8 | 4.4 | 7.3 |
| Asset turnover | — | — | 20.11 | 5.43 | 5.94 | 6.62 | 5.44 | — |
| Return ratios | ||||||||
| Return on assets % | — | — | 28.5% | 16.8% | 11.9% | 4.1% | 0.7% | — |
| Return on capital employed % | — | — | — | 37.4% | 31.3% | 8.7% | 1.5% | — |
| Return on equity % | — | — | — | 30.3% | 20.3% | 5.3% | 0.8% | — |
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.