Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 68.7% | — | 29.2% | 28.4% | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 68.7% | — | 29.2% | 28.4% | ||||
| 29.1% |
| 31.9% |
| 32.8% |
| 33.4% |
| EBITDA margin % | 13.8% | 12.5% | 7.3% | 3.8% | 9.8% | 13% | 13.1% | 13.5% |
| EBIT margin % | 11.4% | 9.7% | 3.7% | 0.2% | 7.3% | 10.7% | 10.8% | 11.4% |
| PAT margin % | 8.5% | 8.1% | 0.8% | 2.3% | 7.4% | 16% | 9.4% | 8.5% |
| Working capital | ||||||||
| Receivable days | 62 | 48 | 56 | 55 | 38 | 41 | 52 | 44 |
| Inventory days | 68 | 39 | 60 | 61 | 51 | 42 | 56 | 46 |
| Payable days | 19 | 7 | 123 | 104 | 81 | 83 | 92 | 98 |
| NWC days | 111 | 80 | -7 | 12 | 8 | 0 | 17 | -9 |
| Leverage | ||||||||
| Current ratio | 1.73 | 1.84 | 1.7 | 1.03 | 0.98 | 2.19 | 1.98 | 1.84 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 80.3 | 51 | 10.4 | 17.3 | 73.9 | 129.3 | 150.1 | 111.3 |
| Asset turnover | 1.41 | 1.41 | 1 | 0.85 | 1.03 | 1.01 | 1.01 | 1.04 |
| Return ratios | ||||||||
| Return on assets % | 12% | 11.4% | 0.8% | 2% | 7.6% | 16.2% | 9.4% | 8.8% |
| Return on capital employed % | 27% | 20.4% | 6.3% | 3.6% | 15.3% | 18.8% | 17.7% | 19.4% |
| Return on equity % | 17.5% | 16.6% | 1.1% | 2.9% | 11% | 21.6% | 12.8% | 12.4% |
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.