Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 63% | 32% | 32.4% | 22.5% | 23.1% | 20.4% | 26.3% | 30.5% |
| EBITDA margin % | -2.6% | 6.7% | 12.4% | 5.8% | 9.8% | 5.4% | 10.3% | 12.3% |
| EBIT margin % | -6.6% | 3.8% | 10.3% | 3.6% | 8.2% | 3.6% | 8.3% | 10.5% |
| PAT margin % | -5.6% | 6.3% | 21.6% | 9.2% | 7.6% | 5.3% | 9.5% | 12.2% |
| Working capital | ||||||||
| Receivable days | — | — | 48 | 55 | 42 | 66 | 54 | 63 |
| Inventory days | — | — | 64 | 70 | 106 | 69 | 103 | 108 |
| Payable days | — | — | 57 | 86 | 49 | 84 | 101 | 96 |
| NWC days | — | — | 55 | 40 | 99 | 52 | 56 | 74 |
| Leverage | ||||||||
| Current ratio | — | — | 2.33 | 1.56 | 1.27 | 1.48 | 1.22 | 1.23 |
| Debt to EBITDA | — | — | 0.92 | 4.31 | 2.22 | 2.55 | 0.45 | 0.41 |
| Debt to equity | — | — | 0.2 | 0.43 | 0.43 | 0.35 | 0.09 | 0.08 |
| Interest coverage | -0.9 | 5.1 | 26.9 | 8.7 | 5.7 | 3.9 | 4.6 | 10.9 |
| Asset turnover | — | — | 0.9 | 0.82 | 1 | 1.17 | 1.09 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | — | — | 19.4% | 7.6% | 7.6% | 6.1% | 10.3% | 11.2% |
| Return on capital employed % | — | — | 36.1% | 17.6% | 22% | 18.3% | 18.5% | 22.9% |
| Return on equity % | — | — | 37% | 15.9% | 15.2% | 13.4% | 19.6% | 19.7% |
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.