Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 39.8% | 43.6% | 42.3% | 40.2% | 29.1% | 39.3% | 44% | 36.1% |
| EBITDA margin % | 12% | 15.6% | 19.4% | 14.1% | 6.6% | 11.4% | 14.9% | 12.9% |
| EBIT margin % | 10.8% | 13.2% | 17.1% | 12.2% | 5.4% | 9.6% | 12.9% | 11.2% |
| PAT margin % | 5.4% | 10% | 10.6% | 8% | 3.9% | 7.4% | 10% | 9.4% |
| Working capital | ||||||||
| Receivable days | 174 | 166 | 34 | 49 | 23 | 4 | 8 | 36 |
| Inventory days | 79 | 60 | 39 | 119 | 25 | 42 | 71 | 63 |
| Payable days | 59 | 29 | 19 | 57 | 22 | 27 | 25 | 26 |
| NWC days | 195 | 198 | 54 | 111 | 26 | 19 | 54 | 73 |
| Leverage | ||||||||
| Current ratio | 1.02 | 1.1 | 2.06 | 1.59 | 1.79 | 2 | 3.07 | 2.33 |
| Debt to EBITDA | 6.76 | 4.68 | 1.25 | 1.88 | 1.79 | 0.87 | 0 | 0.36 |
| Debt to equity | 2.53 | 2.27 | 0.58 | 0.69 | 0.47 | 0.25 | 0 | 0.09 |
| Interest coverage | 5 | 3.6 | 8 | 19.4 | 5.5 | 12.2 | 51.8 | 379.1 |
| Asset turnover | 0.73 | 0.84 | 1.24 | 1.23 | 2.22 | 1.59 | 1.49 | 1.47 |
| Return ratios | ||||||||
| Return on assets % | 3.9% | 8.4% | 13.2% | 9.9% | 8.5% | 11.8% | 14.9% | 13.8% |
| Return on capital employed % | 18% | 23.3% | 26.9% | 23% | 19.1% | 22.7% | 26.1% | 24% |
| Return on equity % | 16.8% | 31.3% | 25.5% | 20.8% | 15.6% | 18.7% | 19.4% | 19.1% |
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.