Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 29.8% | 12.2% | 1.8% | 24.9% | 38.5% | 25.5% | 22.5% | 18% |
| EBIT margin % | 24.7% | 6.2% | -5.1% | 21.3% | 36.2% | 22.3% | 19.1% | 13.7% |
| PAT margin % | 7.4% | 13.3% | -3% | 14.8% | 34.6% | 24.9% | 24.1% | 37.3% |
| Working capital | ||||||||
| Receivable days | 29 | — | — | 27 | 20 | 15 | 11 | 10 |
| Inventory days | 27 | — | — | 16 | 18 | 21 | 15 | 16 |
| Payable days | 30 | 37 | — | 37 | 34 | 54 | 39 | 43 |
| NWC days | 25 | — | — | 6 | 3 | -18 | -13 | -17 |
| Leverage | ||||||||
| Current ratio | 6.06 | 4.85 | — | 3.87 | 4.04 | 4.69 | 4.67 | 4.14 |
| Debt to EBITDA | — | — | — | 0 | 0 | 0 | 0.19 | 0.65 |
| Debt to equity | — | — | — | 0 | 0 | 0 | 0.02 | 0.04 |
| Interest coverage | 331.6 | 139.8 | 25.8 | 346.6 | 727.8 | 279.9 | 412.3 | 110.1 |
| Asset turnover | 0.36 | 0.3 | — | 0.47 | 0.51 | 0.34 | 0.37 | 0.3 |
| Return ratios | ||||||||
| Return on assets % | 2.7% | 4% | — | 6.9% | 17.6% | 8.4% | 8.9% | 11% |
| Return on capital employed % | 12.2% | 5.4% | — | 13.6% | 28.1% | 12.4% | 12.9% | 10.2% |
| Return on equity % | 3.2% | 5% | — | 8.4% | 21.1% | 10.1% | 10.8% | 14% |
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.