Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 72.5% | 81.1% | ||||
| 98.3% |
| 98.4% |
| — |
| — |
| EBITDA margin % | 18% | 3.2% | 14.4% | 3% | 16.1% | 13.7% | 15.7% | 13.5% |
| EBIT margin % | 14.9% | -1.2% | 10.6% | -7.9% | 12.2% | 10.3% | 12.7% | 10.7% |
| PAT margin % | 10.6% | -2.2% | 6.3% | -7.2% | 12.6% | 17.4% | 16.4% | 15.2% |
| Working capital | ||||||||
| Receivable days | — | — | 167 | 106 | 168 | 119 | 112 | 125 |
| Inventory days | — | — | 168 | 114 | 1,366 | 1,003 | 16 | 18 |
| Payable days | — | — | 55 | 27 | 219 | 271 | 3 | 8 |
| NWC days | — | — | 281 | 193 | 1,315 | 851 | 125 | 134 |
| Leverage | ||||||||
| Current ratio | — | — | 0.73 | 3.26 | 2.93 | 3.73 | 2.56 | 2.79 |
| Debt to EBITDA | — | — | 9.99 | 10.46 | 1.32 | 1.46 | 1.27 | 2.05 |
| Debt to equity | — | — | 0.81 | 0.22 | 0.1 | 0.09 | 0.09 | 0.11 |
| Interest coverage | 4.7 | 0.4 | 3.5 | -0.9 | 10.2 | 16.6 | 22.5 | 15.6 |
| Asset turnover | — | 0.77 | 0.29 | 0.53 | 0.38 | 0.39 | 0.38 | 0.35 |
| Return ratios | ||||||||
| Return on assets % | — | -1.7% | 1.8% | -3.9% | 4.8% | 6.8% | 6.3% | 5.3% |
| Return on capital employed % | — | — | 5.2% | -2.7% | 8.5% | 11.6% | 11.5% | 9.7% |
| Return on equity % | — | — | 3.6% | -5% | 5.6% | 7.8% | 7.2% | 6.3% |
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.