Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 96.1% | 98% | — | — | — | — | — |
| EBITDA margin % | 13.4% | 13.5% | 21.6% | 16.7% | 14.3% | 12.5% | 13.3% | 14% |
| EBIT margin % | 10.4% | 8% | 15.7% | 13.3% | 11.6% | 9.8% | 10.8% | 12% |
| PAT margin % | 11.1% | 3.9% | -12.8% | 9.1% | 9.2% | 6.7% | 10.7% | 11.6% |
| Working capital | ||||||||
| Receivable days | 153 | 111 | 165 | 133 | 129 | 136 | 102 | 103 |
| Inventory days | 35 | 596 | 1,243 | 16 | 11 | 6 | 4 | 1 |
| Payable days | 162 | 2,312 | 4,735 | 103 | 124 | 83 | 77 | 41 |
| NWC days | 26 | -1,605 | -3,327 | 46 | 16 | 59 | 30 | 63 |
| Leverage | ||||||||
| Current ratio | 1.37 | 1.33 | 1.55 | 1.79 | 1.47 | 2.08 | 3.13 | 2.39 |
| Debt to EBITDA | 2.07 | 2.48 | 2.36 | 0.96 | 1 | 0.86 | 0.04 | 0 |
| Debt to equity | 0.38 | 0.38 | 0.46 | 0.2 | 0.22 | 0.1 | 0 | 0 |
| Interest coverage | 5.8 | 2 | 2.4 | 6.5 | 6.8 | 6 | 27.3 | 31.2 |
| Asset turnover | 0.59 | 0.53 | 0.46 | 0.7 | 0.8 | 0.62 | 0.6 | 0.6 |
| Return ratios | ||||||||
| Return on assets % | 6.6% | 2% | -5.9% | 6.4% | 7.4% | 4.2% | 6.4% | 7% |
| Return on capital employed % | 22% | 10.3% | 11.3% | 15% | 19.5% | 12.8% | 12.4% | 13.4% |
| Return on equity % | 15.2% | 4.4% | -11.5% | 11% | 14.2% | 6.4% | 8.2% | 9.2% |
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.