Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 94.1% | — | 98.8% | — | — | — | — |
| EBITDA margin % | 26.7% | 26.5% | 26.4% | 23.9% | 21% | 22.3% | 20.5% | 12.2% |
| EBIT margin % | 22.9% | 22.5% | 20.7% | 20% | 17.4% | 18.5% | 16.8% | 8.8% |
| PAT margin % | 13% | 14.1% | 9.5% | 14.3% | 17.4% | 15.7% | 21.5% | 10.6% |
| Working capital | ||||||||
| Receivable days | — | — | 78 | 47 | 42 | 41 | 68 | 54 |
| Inventory days | — | — | 999 | 41,405 | 703 | 918 | 1,060 | 1,114 |
| Payable days | — | — | 103 | 4,969 | 75 | 80 | 82 | 81 |
| NWC days | — | — | 974 | 36,483 | 670 | 879 | 1,046 | 1,086 |
| Leverage | ||||||||
| Current ratio | — | — | 1.09 | 1.22 | 1.25 | 1.15 | 1.28 | 1.22 |
| Debt to EBITDA | — | — | 4.66 | 3.15 | 3.07 | 3.86 | 3.61 | 9.38 |
| Debt to equity | — | — | 0.67 | 0.46 | 0.36 | 0.41 | 0.26 | 0.47 |
| Interest coverage | 3 | 2.8 | 2.2 | 4 | 4.5 | 4 | 4.8 | 4.1 |
| Asset turnover | — | — | 0.19 | 0.25 | 0.24 | 0.19 | 0.15 | 0.15 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.8% | 3.5% | 4.2% | 3% | 3.3% | 1.6% |
| Return on capital employed % | — | — | 10% | 12.3% | 11.5% | 10.1% | 9.1% | 6.1% |
| Return on equity % | — | — | 5.2% | 8.7% | 9.8% | 7.5% | 7.4% | 4.4% |
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.