Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 35.3% | 26.1% | 25.4% | 29.7% | 30.1% |
| EBITDA margin % | 11.3% | 10.7% | 15.2% | 14.4% | 8.3% | 7.5% | 10.8% | 11.2% |
| EBIT margin % | 9.7% | 10.7% | 12.9% | 12% | 6.4% | 6.3% | 10% | 10.3% |
| PAT margin % | 4.4% | 4.9% | 6.8% | 5.1% | 1.5% | 2.5% | 5.6% | 10.6% |
| Working capital | ||||||||
| Receivable days | 1,52,670 | 2,23,357 | — | 230 | 214 | 190 | 219 | 237 |
| Inventory days | 69,612 | 80,389 | — | 106 | 100 | 96 | 61 | 71 |
| Payable days | 93,076 | 1,25,580 | — | 122 | 105 | 120 | 87 | 84 |
| NWC days | 1,29,205 | 1,78,165 | — | 214 | 209 | 166 | 193 | 224 |
| Leverage | ||||||||
| Current ratio | 0 | 0 | — | 1.43 | 1.58 | 1.54 | 1.59 | 2.14 |
| Debt to EBITDA | 2,382.43 | 3,553.3 | — | 3.36 | 5.41 | 4.78 | 3.21 | 2.07 |
| Debt to equity | 0.98 | 1.36 | — | 1.38 | 1.29 | 1.15 | 1.1 | 0.45 |
| Interest coverage | 2.3 | 2.4 | 2.7 | 2.2 | 1.4 | 1.8 | 3 | 3.3 |
| Asset turnover | 0 | 0 | — | 0.84 | 0.88 | 0.99 | 1.11 | 1.04 |
| Return ratios | ||||||||
| Return on assets % | 0% | 0% | — | 4.3% | 1.3% | 2.4% | 6.3% | 11% |
| Return on capital employed % | 0% | 0% | — | 27% | 15.7% | 18.5% | 31.8% | 24% |
| Return on equity % | 0% | 0% | — | 14.5% | 4.3% | 7.8% | 18% | 20.7% |
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.