Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | — | 71.4% | 84.2% | — | ||
| — |
| — |
| EBITDA margin % | 9.7% | 13.7% | 9.1% | 8.3% | 8.8% | 8.1% | 9.2% |
| EBIT margin % | 9.6% | 13.4% | 9% | 8.2% | 8.5% | 7.9% | 9% |
| PAT margin % | 6% | 9.6% | 7% | 6.6% | 6.3% | 6.3% | 7.4% |
| Working capital | |||||||
| Receivable days | 31 | 43 | 67 | 47 | 44 | 30 | 63 |
| Inventory days | 54 | 79 | 343 | 637 | 205 | 156 | 174 |
| Payable days | — | 16 | 62 | 176 | 58 | 67 | 32 |
| NWC days | — | 107 | 349 | 508 | 191 | 118 | 206 |
| Leverage | |||||||
| Current ratio | 6.36 | 5.26 | 2.72 | 2.9 | 2.49 | 1.98 | 2.19 |
| Debt to EBITDA | 0.01 | 0.28 | 0.15 | 0.17 | 2.12 | 2.48 | 3.37 |
| Debt to equity | 0 | 0.04 | 0.02 | 0.02 | 0.18 | 0.28 | 0.26 |
| Interest coverage | 3.7 | 5.4 | 10.8 | 7.6 | 3.7 | 3.8 | 3.7 |
| Asset turnover | 2 | 1.02 | 1.04 | 1.14 | 0.71 | 0.88 | 0.6 |
| Return ratios | |||||||
| Return on assets % | 12% | 9.8% | 7.3% | 7.5% | 4.4% | 5.5% | 4.5% |
| Return on capital employed % | 25.2% | 20.3% | 15.4% | 15.6% | 11.7% | 15.2% | 11.8% |
| Return on equity % | 13.4% | 11.3% | 9.6% | 9.6% | 6.2% | 8.7% | 6.1% |
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.