Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 46% | 48.9% | 47.1% | 56.5% | 47.9% | 49.1% | 57% | 57.1% |
| EBITDA margin % | 13.7% | 5.4% | 8.6% | 10.9% | 14.1% | 17.6% | 22.8% | 18.6% |
| EBIT margin % | 11% | 0% | 2.8% | 1.3% | 9.6% | 14.3% | 19.4% | 14.8% |
| PAT margin % | 12.6% | 8.7% | 9% | 10.1% | 12.1% | 17.8% | 19.8% | 16.8% |
| Working capital | ||||||||
| Receivable days | 120 | 104 | 178 | 169 | 112 | 150 | 101 | 115 |
| Inventory days | 147 | 349 | 204 | 705 | 320 | 270 | 387 | 400 |
| Payable days | 73 | — | 106 | 168 | 74 | 86 | 56 | 65 |
| NWC days | 194 | — | 276 | 706 | 357 | 335 | 432 | 450 |
| Leverage | ||||||||
| Current ratio | 4.33 | 4.99 | 6.62 | 7.69 | 4.42 | 3.44 | 4.63 | 4.33 |
| Debt to EBITDA | 0.06 | 0.19 | 0.08 | 0 | 0 | 0.01 | 0 | 0.06 |
| Debt to equity | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 |
| Interest coverage | 54.4 | 21 | 24 | 24 | 54 | 54.1 | 118.1 | 60.2 |
| Asset turnover | 0.53 | 0.31 | 0.34 | 0.23 | 0.45 | 0.51 | 0.51 | 0.44 |
| Return ratios | ||||||||
| Return on assets % | 6.6% | 2.7% | 3.1% | 2.4% | 5.4% | 9% | 10% | 7.4% |
| Return on capital employed % | 9.9% | 3.3% | 4.5% | 3.1% | 7.8% | 13.6% | 15.9% | 11.2% |
| Return on equity % | 7.5% | 3% | 3.5% | 2.6% | 6% | 10.5% | 11.3% | 8.3% |
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.