Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 52.7% | 48.3% | 44.7% | 40.8% | 43.4% | 45.2% | 94.9% | 98.8% |
| EBITDA margin % | 24.4% | 19% | 11% | 13% | 13.5% | 19.4% | 55% | 44% |
| EBIT margin % | 19.5% | 12.4% | 2.2% | 7.5% | 8.8% | 14.2% | 37.9% | 23.7% |
| PAT margin % | 17.3% | 13.2% | 1.2% | 5% | 7.7% | 3.9% | -7.4% | 134.9% |
| Working capital | ||||||||
| Receivable days | 19 | — | 23 | 20 | 12 | 13 | 57 | 19 |
| Inventory days | 123 | — | 214 | 206 | 240 | 380 | 79,666 | 5,03,450 |
| Payable days | 1 | — | 144 | 122 | 95 | 117 | 2,251 | 16,567 |
| NWC days | 140 | — | 93 | 103 | 157 | 276 | 77,472 | 4,86,902 |
| Leverage | ||||||||
| Current ratio | — | — | 1.35 | 0.86 | 1.05 | 1.44 | 1.16 | 1.04 |
| Debt to EBITDA | 0.52 | — | 3.42 | 2.22 | 1.43 | 1.82 | 21.51 | 36.37 |
| Debt to equity | 0.15 | — | 0.27 | 0.3 | 0.22 | 0.31 | 0.87 | 0.89 |
| Interest coverage | 9 | 5 | 1.5 | 5 | 5.4 | 7.1 | 2.1 | 1.8 |
| Asset turnover | 0.39 | — | 0.41 | 0.58 | 0.64 | 0.46 | 0.03 | 0.02 |
| Return ratios | ||||||||
| Return on assets % | 6.7% | — | 0.5% | 2.9% | 4.9% | 1.8% | -0.2% | 2.6% |
| Return on capital employed % | — | — | 2.6% | 7.4% | 9.5% | 11.7% | 4.1% | 3.9% |
| Return on equity % | 20.6% | — | 0.9% | 5.3% | 8.8% | 3.5% | -0.5% | 7.5% |
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.