Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 82.7% | 83.9% | 82.7% | 80.2% | 83.2% | 81.9% |
| EBITDA margin % | -42.3% | -22% | 23.1% | 32.6% | 11.1% | -9% | 16% | 5.8% |
| EBIT margin % | -58.4% | -41.7% | 13.6% | 24.2% | 0.1% | -20.7% | 9.2% | -0.3% |
| PAT margin % | -67.8% | -50.4% | 9.1% | 22.8% | -0.6% | -20.2% | 9.4% | 0.2% |
| Working capital | ||||||||
| Receivable days | — | — | 41 | 84 | 59 | 62 | 39 | 25 |
| Inventory days | — | — | 51 | 46 | 58 | 63 | 50 | 57 |
| Payable days | — | — | 92 | 71 | — | — | — | 92 |
| NWC days | — | — | 1 | 59 | — | — | — | -10 |
| Leverage | ||||||||
| Current ratio | — | — | 1.93 | 3.99 | 3.71 | 2.11 | 2.26 | 1.48 |
| Debt to EBITDA | — | — | 0.36 | 0.14 | 0.6 | — | 0.34 | 0.92 |
| Debt to equity | — | — | 0.15 | 0.07 | 0.08 | 0.11 | 0.1 | 0.11 |
| Interest coverage | -4.4 | -3.2 | 2.6 | 13.1 | 0.8 | -6.2 | 6.9 | 1.1 |
| Asset turnover | — | — | 1.29 | 1.08 | 0.83 | 0.9 | 1.26 | 1.35 |
| Return ratios | ||||||||
| Return on assets % | — | — | 11.7% | 24.6% | -0.5% | -18.2% | 11.8% | 0.3% |
| Return on capital employed % | — | — | 23.2% | 37% | 2.1% | -16.3% | 17.4% | 2.9% |
| Return on equity % | — | — | 16.6% | 34.9% | -0.7% | -26.3% | 17% | 0.4% |
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.