Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 73.4% | 73.8% | — | 65.3% | 61.4% | 65.4% | 55.4% | 29.2% |
| EBITDA margin % | 31% | 28.8% | 33.6% | 20.2% | 20.6% | 23.4% | 20.6% | -1.7% |
| EBIT margin % | 26.2% | 23% | 27.3% | 14.3% | 14.6% | 16.2% | 13.8% | -7% |
| PAT margin % | 19% | 20.8% | 22.6% | 10.3% | 9.4% | 10.8% | -1,639.8% | 12.4% |
| Working capital | ||||||||
| Receivable days | 79 | 71 | — | 76 | 59 | 68 | 0 | — |
| Inventory days | 164 | 138 | — | 160 | 122 | 154 | 0 | — |
| Payable days | 63 | 58 | — | 67 | 38 | 57 | 0 | — |
| NWC days | 180 | 151 | — | 168 | 143 | 165 | 0 | — |
| Leverage | ||||||||
| Current ratio | 2.39 | 3.01 | — | 1.8 | 2.02 | 2.03 | 28.79 | 7.86 |
| Debt to EBITDA | 0.85 | 1.42 | — | 2.33 | 1.67 | 1.42 | 0 | — |
| Debt to equity | 0.25 | 0.3 | — | 0.33 | 0.27 | 0.21 | 0 | 0 |
| Interest coverage | 13.4 | 9.7 | 16.2 | 7.7 | 5.5 | 6.2 | 488 | 1.1 |
| Asset turnover | 0.63 | 0.51 | — | 0.47 | 0.56 | 0.47 | 0.08 | 0.09 |
| Return ratios | ||||||||
| Return on assets % | 12.1% | 10.5% | — | 4.8% | 5.2% | 5.1% | -137.9% | 1.1% |
| Return on capital employed % | 21.5% | 16% | — | 9.1% | 10% | 9.6% | 1% | 0.4% |
| Return on equity % | 17.8% | 15.3% | — | 7.2% | 7.4% | 6.9% | -144.6% | 1.3% |
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.