Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 71.3% | 61.7% | 96.3% | 96.4% | 98.5% | 92.3% |
| EBITDA margin % | 26.5% | 25.6% | 29.2% | 19.9% | 40.5% | 39.5% | 44.1% | 29.4% |
| EBIT margin % | 20.7% | 20.4% | 23.7% | 15.6% | 32.5% | 31.7% | 35.2% | 21.6% |
| PAT margin % | 14.8% | 13.7% | 9.1% | 11% | 26.4% | 26.7% | 14.3% | 23.6% |
| Working capital | ||||||||
| Receivable days | — | — | 56 | 39 | 32 | 61 | 60 | 63 |
| Inventory days | — | — | 61 | 0 | 9 | 0 | 1,057 | 319 |
| Payable days | — | — | 233 | 122 | 1,111 | 1,177 | 2,943 | 525 |
| NWC days | — | — | -117 | -83 | -1,070 | -1,116 | -1,826 | -143 |
| Leverage | ||||||||
| Current ratio | — | — | 1.41 | 1.67 | 1.21 | 2.08 | 2.06 | 1.54 |
| Debt to EBITDA | — | — | 0.63 | 0.34 | 0.24 | 0.14 | 0.2 | 0.31 |
| Debt to equity | — | — | 0.2 | 0.07 | 0.05 | 0.03 | 0.04 | 0.04 |
| Interest coverage | 4.4 | 5.3 | 10.1 | 15.2 | 14.3 | 14.1 | 14.2 | 11.6 |
| Asset turnover | — | — | 0.72 | 0.78 | 0.4 | 0.36 | 0.32 | 0.33 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.6% | 8.6% | 10.5% | 9.6% | 4.5% | 7.7% |
| Return on capital employed % | — | — | 22% | 16% | 19.9% | 17.8% | 16% | 12.8% |
| Return on equity % | — | — | 10.1% | 11.3% | 14.4% | 12.1% | 5.8% | 10.4% |
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.