Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | 64.1% | 55.3% | 54.5% | 55.8% | 57.3% | 51.6% |
| EBITDA margin % | 44.4% | 43.7% | 38.5% | 38.3% | 39.3% | 39.9% | 37.5% |
| EBIT margin % | 8.8% | -5.2% | 29.9% | 29.4% | 30.9% | 31.6% | 31.4% |
| PAT margin % | 6.9% | 35.4% | 25.5% | 26% | 27.3% | 27.3% | 13.9% |
| Working capital | |||||||
| Receivable days | 204 | 220 | 171 | 121 | 126 | 123 | 115 |
| Inventory days | 56 | 172 | 66 | 101 | 81 | 91 | 73 |
| Payable days | — | — | — | 141 | 97 | 95 | 81 |
| NWC days | — | — | — | 81 | 110 | 119 | 108 |
| Leverage | |||||||
| Current ratio | 3.66 | 3.49 | 4.68 | 4.31 | 2.46 | 1.81 | 1.76 |
| Debt to EBITDA | 0.55 | 0.52 | 0.25 | 0.55 | 0.93 | 1.05 | 0.74 |
| Debt to equity | 0.06 | 0.04 | 0.02 | 0.05 | 0.11 | 0.15 | 0.12 |
| Interest coverage | 2.4 | -0.3 | 21.7 | 24.9 | 21.1 | 12.7 | 16 |
| Asset turnover | 0.21 | 0.16 | 0.22 | 0.22 | 0.24 | 0.26 | 0.34 |
| Return ratios | |||||||
| Return on assets % | 1.4% | 5.6% | 5.7% | 5.8% | 6.4% | 7.2% | 4.7% |
| Return on capital employed % | 2.2% | -0.2% | 8.3% | 9% | 10.8% | 12.8% | 16.2% |
| Return on equity % | 1.8% | 6.2% | 6.4% | 6.7% | 8.3% | 9.5% | 5.9% |
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.