Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 46.5% | 47.5% | 33.7% | 42.4% | 40.6% | 43.5% | 39.8% | 30.9% |
| EBITDA margin % | 11.3% | 14.1% | -12.5% | 9.3% | 8.8% | 5.8% | 2.4% | -13.6% |
| EBIT margin % | 10.6% | 9.8% | -23.5% | 4.7% | 5.9% | 2% | -2.5% | -19.9% |
| PAT margin % | 7.2% | 5.2% | -13.8% | 5.1% | 8% | 1.3% | -3.8% | -18.5% |
| Working capital | ||||||||
| Receivable days | 61 | 56 | 87 | 60 | 44 | 54 | 62 | 52 |
| Inventory days | 185 | 153 | 199 | 186 | 147 | 224 | 161 | 101 |
| Payable days | — | — | 132 | 107 | 76 | 114 | 108 | 112 |
| NWC days | — | — | 154 | 140 | 115 | 164 | 115 | 42 |
| Leverage | ||||||||
| Current ratio | 1.84 | 1.77 | 1.71 | 1.83 | 1.74 | 1.32 | 1.24 | 0.89 |
| Debt to EBITDA | 0.43 | 0.13 | — | 0.64 | 0.76 | 3.37 | 6.25 | — |
| Debt to equity | 0.16 | 0.06 | 0.32 | 0.15 | 0.22 | 0.7 | 0.6 | 1.83 |
| Interest coverage | 132.9 | 8.8 | -3 | 4.7 | 8.6 | 1.2 | -0.6 | -5 |
| Asset turnover | 1.73 | 1.49 | 0.61 | 1.22 | 1.62 | 1.19 | 1.29 | 1.31 |
| Return ratios | ||||||||
| Return on assets % | 12.5% | 7.7% | -8.4% | 6.2% | 12.9% | 1.5% | -4.8% | -24.2% |
| Return on capital employed % | 37.9% | 29.7% | -12.5% | 16.7% | 29.1% | 7.2% | -4.4% | -51.4% |
| Return on equity % | 23.6% | 16.2% | -18% | 12.6% | 26.5% | 4.5% | -14.8% | -164.3% |
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.