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Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 48.7% | 51.2% | 51.3% | 46.4% | 47.6% | 51.6% |
| EBITDA margin % | 24.9% | 28.5% | 28.6% | 22.1% | 28.6% | 31.4% |
| EBIT margin % | 22.5% | 25.9% | 25% | 15.5% | 23.2% | 25% |
| PAT margin % | 15.8% | 18.5% | 20% | 14.8% | 19.3% | 18.5% |
| Working capital | ||||||
| Receivable days | 88 | 101 | 145 | 141 | 122 | 119 |
| Inventory days | 134 | 206 | 286 | 390 | 341 | 401 |
| Payable days | 76 | 89 | 94 | 107 | 101 | 121 |
| NWC days | 146 | 219 | 338 | 424 | 363 | 399 |
| Leverage | ||||||
| Current ratio | 1.44 | 1.69 | 7.18 | 5.77 | 4.09 | 2.03 |
| Debt to EBITDA | 1.86 | 1.7 | 0 | 0.98 | 0.6 | 1.15 |
| Debt to equity | 1.19 | 0.74 | 0 | 0.06 | 0.06 | 0.14 |
| Interest coverage | 9.3 | 12.2 | 35.3 | 16 | 22.2 | 20.9 |
| Asset turnover | 0.99 | 0.77 | 0.47 | 0.25 | 0.31 | 0.31 |
| Return ratios | ||||||
| Return on assets % | 15.7% | 14.1% | 9.5% | 3.7% | 5.9% | 5.8% |
| Return on capital employed % | 36.1% | 39% | 19.8% | 8% | 10.3% | 10.7% |
| Return on equity % | 40.8% | 28.2% | 10.5% | 4.3% | 6.8% | 7.2% |
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.