Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 33.2% | 59.6% | 26.2% | 19.4% | 21.7% | 27.5% | 31.4% | 37.2% |
| EBITDA margin % | 22.6% | 15.4% | 7.6% | 5.5% | 9.3% | 15.3% | 18.5% | 21.2% |
| EBIT margin % | 21.2% | 13.3% | 5% | 3.8% | 8.1% | 14.2% | 17.4% | 19.8% |
| PAT margin % | 12.9% | 4.4% | 2.8% | 2.3% | 5% | 9.8% | 12.1% | 17% |
| Working capital | ||||||||
| Receivable days | 57 | 62 | 100 | 66 | 44 | 57 | 50 | 62 |
| Inventory days | 124 | 166 | 99 | 125 | 61 | 85 | 68 | 92 |
| Payable days | — | — | 44 | 126 | 38 | 66 | 27 | 48 |
| NWC days | — | — | 155 | 66 | 67 | 77 | 91 | 106 |
| Leverage | ||||||||
| Current ratio | 1.42 | 1.13 | 1.25 | 1.18 | 1.51 | 1.93 | 3.56 | 2.24 |
| Debt to EBITDA | 0.8 | 1.22 | 5.67 | 3.78 | 2.15 | 0.94 | 0.36 | 0.77 |
| Debt to equity | 0.26 | 0.2 | 0.42 | 0.32 | 0.38 | 0.2 | 0.08 | 0.16 |
| Interest coverage | 7.3 | 4.6 | 2.9 | 3.3 | 5.6 | 10 | 19.1 | 18 |
| Asset turnover | 0.85 | 0.73 | 0.62 | 0.83 | 1.16 | 0.96 | 1.02 | 0.72 |
| Return ratios | ||||||||
| Return on assets % | 11% | 3.2% | 1.7% | 1.9% | 5.8% | 9.4% | 12.3% | 12.3% |
| Return on capital employed % | 27.2% | 13.4% | 5.4% | 6% | 16.9% | 23% | 24% | 23.7% |
| Return on equity % | 18.3% | 4.8% | 2.7% | 3.6% | 9.4% | 13.8% | 15.3% | 16.2% |
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.