Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48.2% | 68.9% | 78.6% | 82.3% | 78.3% | 70.2% | 70.6% | 76% |
| EBITDA margin % | 8.3% | 13.4% | 39.3% | 38% | 22.9% | 9.8% | 14.8% | 30.5% |
| EBIT margin % | 6.9% | 1.6% | 30.9% | 31.4% | 15.6% | -1.7% | 5.1% | 24.9% |
| PAT margin % | 13.1% | 0.2% | 17.9% | 25.7% | 12.9% | -1.7% | 3% | 1.4% |
| Working capital | ||||||||
| Receivable days | 59 | 55 | 53 | 34 | 29 | 38 | 36 | 29 |
| Inventory days | 195 | 203 | 128 | 221 | 427 | 182 | 194 | 119 |
| Payable days | — | — | 76 | 104 | 107 | 61 | 65 | 49 |
| NWC days | — | — | 105 | 150 | 349 | 159 | 165 | 99 |
| Leverage | ||||||||
| Current ratio | 10.74 | 7.37 | 5.28 | 3.75 | 1.46 | 1.54 | 1.54 | 4.6 |
| Debt to EBITDA | 0.01 | 2.29 | 0.4 | 0.64 | 2.3 | 3.65 | 1.53 | 0.35 |
| Debt to equity | 0 | 0.25 | 0.13 | 0.2 | 0.41 | 0.41 | 0.23 | 0.11 |
| Interest coverage | 30 | 1.2 | 20.2 | 79.5 | 17 | 0.2 | 2.8 | 28.6 |
| Asset turnover | 0.37 | 0.55 | 0.64 | 0.61 | 0.49 | 0.73 | 0.73 | 0.84 |
| Return ratios | ||||||||
| Return on assets % | 4.8% | 0.1% | 11.5% | 15.7% | 6.4% | -1.2% | 2.2% | 1.1% |
| Return on capital employed % | 8% | 1.1% | 27.4% | 27% | 11.9% | 0.4% | 6% | 27.9% |
| Return on equity % | 5.7% | 0.1% | 14.6% | 21.1% | 10.1% | -1.9% | 3.1% | 1.4% |
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.