Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 19% | ||||
| 14.1% |
| — |
| 28.9% |
| 36.2% |
| EBITDA margin % | — | — | — | 7.8% | 7.5% | 8% | 10.2% | 12.2% |
| EBIT margin % | — | — | — | 6.2% | 6.3% | 6% | 8.1% | 10% |
| PAT margin % | — | — | — | 4.8% | 4.6% | 4% | 4.5% | 2.3% |
| Working capital | ||||||||
| Receivable days | — | — | — | 27 | 12 | — | 76 | 188 |
| Inventory days | — | — | — | 84 | 165 | — | 126 | 124 |
| Payable days | — | — | — | 106 | 162 | — | 96 | 117 |
| NWC days | — | — | — | 4 | 15 | — | 106 | 195 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.9 | 1.12 | — | 1.23 | 1.1 |
| Debt to EBITDA | — | — | — | 0 | 0 | — | 2.57 | 5.32 |
| Debt to equity | — | — | — | 0 | 0 | — | 0.81 | 1.85 |
| Interest coverage | — | — | — | — | — | — | 5 | 1.5 |
| Asset turnover | — | — | — | 1.03 | 1.03 | — | 1.11 | 0.73 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 4.9% | 4.7% | — | 5% | 1.6% |
| Return on capital employed % | — | — | — | 8.8% | 26.8% | — | 22.6% | 27% |
| Return on equity % | — | — | — | 6.7% | 13.6% | — | 13.8% | 6.4% |
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.