Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 93.4% | 97.8% | 96.8% | 96.7% | 97.3% | 97.3% | 53.5% | — |
| EBITDA margin % | 13.8% | 29.2% | 48.1% | 48% | 34.4% | 39.3% | 21% | 29.5% |
| EBIT margin % | 11.6% | 26.9% | 41.5% | 41.3% | 29.3% | 34.6% | 17% | 23.3% |
| PAT margin % | 172.7% | 4.3% | 11.1% | 1,365.9% | 42.4% | 41.5% | 18.1% | 19.7% |
| Working capital | ||||||||
| Receivable days | 26 | 12 | — | 62 | 68 | 22 | 11 | — |
| Inventory days | 5,976 | 124 | — | 132 | 198 | 110 | 3 | — |
| Payable days | — | — | — | 2,242 | 4,860 | 2,001 | 34 | — |
| NWC days | — | — | — | -2,048 | -4,594 | -1,870 | -20 | — |
| Leverage | ||||||||
| Current ratio | 0.42 | 0.49 | — | 8.65 | 1.14 | 0.56 | 0.44 | — |
| Debt to EBITDA | 26.16 | 6.72 | — | 1.62 | 3.81 | 8.34 | 20.93 | — |
| Debt to equity | 0.65 | 1.01 | — | 0.05 | 0.1 | 0.24 | 0.47 | — |
| Interest coverage | 4.5 | 1.3 | 1.2 | 54.1 | 13.5 | 3.2 | 1.6 | 1.3 |
| Asset turnover | 0.08 | 0.21 | — | 0.05 | 0.06 | 0.05 | 0.06 | — |
| Return ratios | ||||||||
| Return on assets % | 13.8% | 0.9% | — | 72% | 2.7% | 2.2% | 1.2% | — |
| Return on capital employed % | 37.1% | 8.6% | — | 96.4% | 4.8% | 5.1% | 4.6% | — |
| Return on equity % | 31.4% | 2.2% | — | 80.6% | 3.3% | 3% | 1.9% | — |
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.