Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 83.1% | 24.6% | 35.6% | 62.3% | 62.9% | 51.9% | 58% | 58.6% |
| EBITDA margin % | 70.7% | -0.3% | -4.7% | 24% | 25.1% | 16% | 12.1% | 15.8% |
| EBIT margin % | 69.6% | -3.6% | -10.5% | 20.3% | 21% | 8.7% | 2.8% | 7.5% |
| PAT margin % | 46.3% | 2.5% | -2% | 17.7% | 18.5% | 9.7% | 4.7% | 7% |
| Working capital | ||||||||
| Receivable days | 66 | — | 84 | 98 | 72 | 77 | 75 | 71 |
| Inventory days | 428 | — | 262 | 431 | 574 | 379 | 507 | 389 |
| Payable days | 1 | — | 116 | 197 | 164 | 135 | 161 | 133 |
| NWC days | 493 | — | 230 | 331 | 482 | 321 | 420 | 327 |
| Leverage | ||||||||
| Current ratio | 2.82 | — | 3.22 | 2.34 | 2.16 | 2.23 | 2.19 | 1.95 |
| Debt to EBITDA | 0.14 | — | — | 1.26 | 1.2 | 1.61 | 2.24 | 1.96 |
| Debt to equity | 0.18 | — | 0.09 | 0.18 | 0.18 | 0.15 | 0.14 | 0.18 |
| Interest coverage | 261.3 | 1.8 | -1.7 | 70.4 | 24.1 | 9.8 | 4.8 | 7.6 |
| Asset turnover | 1.3 | 2.78 | 0.3 | 0.43 | 0.45 | 0.44 | 0.4 | 0.45 |
| Return ratios | ||||||||
| Return on assets % | 60.2% | 6.9% | -0.6% | 7.6% | 8.3% | 4.3% | 1.9% | 3.2% |
| Return on capital employed % | 150.3% | — | -0.6% | 14.3% | 15.6% | 8.3% | 4.4% | 6.5% |
| Return on equity % | 82% | — | -0.7% | 10.3% | 11.2% | 5.6% | 2.4% | 4.2% |
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.