Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 78.9% | 26.3% | 45% | 59.4% | 58% | 32.8% | 53.2% | 53% |
| EBITDA margin % | 62.4% | -3.3% | 0.9% | 18.7% | 13.7% | -2.9% | 9.6% | 10.5% |
| EBIT margin % | 61.6% | -4.8% | -1.6% | 17.1% | 12.1% | -5.3% | 6.2% | 7.4% |
| PAT margin % | 41.7% | 1.1% | 10.8% | 20.5% | 12% | 30.1% | 18.7% | 9.4% |
| Working capital | ||||||||
| Receivable days | 38 | 51 | 72 | 1 | 66 | 68 | 68 | 84 |
| Inventory days | 468 | 208 | 297 | 5 | 654 | 229 | 351 | 302 |
| Payable days | — | — | 79 | 1 | 87 | 28 | 83 | 80 |
| NWC days | — | — | 290 | 4 | 633 | 269 | 336 | 306 |
| Leverage | ||||||||
| Current ratio | 4.02 | 4.56 | 4.5 | 3.76 | 3.33 | 4.89 | 4.57 | 3.39 |
| Debt to EBITDA | 0.09 | — | 13.96 | 0.01 | 0.84 | — | 0.37 | 0.86 |
| Debt to equity | 0.08 | 0.11 | 0.06 | 0.08 | 0.07 | 0.02 | 0.02 | 0.05 |
| Interest coverage | 395.2 | 1.1 | 46.2 | 189.3 | 53.9 | 11.4 | 95.8 | 17.9 |
| Asset turnover | 1.13 | 0.62 | 0.38 | 49.38 | 0.48 | 0.45 | 0.36 | 0.39 |
| Return ratios | ||||||||
| Return on assets % | 47.2% | 0.7% | 4.2% | 1,012.6% | 5.8% | 13.6% | 6.6% | 3.7% |
| Return on capital employed % | 116.5% | 0.4% | 6.9% | 1,741.4% | 10.4% | 2.7% | 10.2% | 6.5% |
| Return on equity % | 60.3% | 0.8% | 5% | 1,279.3% | 7.5% | 16.3% | 8.1% | 4.7% |
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.