Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 93.2% | 89.2% | 95.3% | 95.8% | 96% | 93.8% | 90.9% |
| EBITDA margin % | — | 11.2% | 9.3% | 8% | 6.8% | 7.5% | 7.9% | 8.4% |
| EBIT margin % | — | 9.7% | 7.6% | 6.7% | 5.7% | 6.7% | 6.8% | 6.6% |
| PAT margin % | 10.3% | 9% | 7.3% | 8% | 7.4% | 7.5% | 6.8% | 6.5% |
| Working capital | ||||||||
| Receivable days | 63 | 37 | 43 | 3,438 | 30 | 24 | 45 | 56 |
| Inventory days | 16 | 320 | 76 | 29,094 | 177 | 175 | 50 | 5 |
| Payable days | 57 | — | 478 | 1,07,945 | 693 | 655 | 687 | 530 |
| NWC days | 22 | — | -359 | -75,413 | -486 | -456 | -592 | -469 |
| Leverage | ||||||||
| Current ratio | 1.69 | 1.27 | 1.3 | 1.33 | 1.54 | 1.68 | 1.59 | 1.65 |
| Debt to EBITDA | — | 0.52 | 0.67 | 238.33 | 2.14 | 2.78 | 5.05 | 7.4 |
| Debt to equity | 0 | 0.07 | 0.08 | 0.3 | 0.29 | 0.44 | 0.67 | 0.85 |
| Interest coverage | 2.9 | 24 | 25.1 | 10.1 | 8.3 | 9.2 | 5 | 3 |
| Asset turnover | 0.31 | 0.53 | 0.47 | 0.01 | 0.67 | 0.71 | 0.55 | 0.43 |
| Return ratios | ||||||||
| Return on assets % | 3.2% | 4.8% | 3.5% | 0% | 4.9% | 5.3% | 3.7% | 2.8% |
| Return on capital employed % | 2.2% | 10.1% | 11.2% | 0.1% | 13% | 14.7% | 9.7% | 7.8% |
| Return on equity % | 10.9% | 11.6% | 8.9% | 0.1% | 14.7% | 15.8% | 11.5% | 8.9% |
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.