Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 95% | 93% | 88.3% | 95% | 95.6% | 95.9% | 93.5% | 90.2% |
| EBITDA margin % | 8.6% | 9.2% | 7.3% | 5.4% | 5.9% | 6.4% | 4.7% | 4.2% |
| EBIT margin % | 8.3% | 8.9% | 6.8% | 5.1% | 5.5% | 6.1% | 4.3% | 3.6% |
| PAT margin % | 10.1% | 9.4% | 8.2% | 7.9% | 7.8% | 7.2% | 7.2% | 7.3% |
| Working capital | ||||||||
| Receivable days | 42 | 39 | 37 | 3,746 | 32 | 29 | 59 | 72 |
| Inventory days | 547 | 320 | 74 | 28,638 | 172 | 172 | 50 | 5 |
| Payable days | 877 | — | 466 | 1,06,274 | 677 | 633 | 674 | 521 |
| NWC days | -287 | — | -354 | -73,890 | -473 | -432 | -565 | -444 |
| Leverage | ||||||||
| Current ratio | 1.32 | 1.17 | 1.22 | 1.4 | 1.49 | 1.6 | 1.59 | 1.61 |
| Debt to EBITDA | 6.77 | — | 0 | 0 | 0 | 0 | 0 | 0.29 |
| Debt to equity | 0.65 | — | 0 | 0 | 0 | 0 | 0 | 0.02 |
| Interest coverage | 40.5 | 25.6 | 40 | 62 | 316.4 | 121.2 | 124.9 | 128.2 |
| Asset turnover | 0.34 | 0.52 | 0.46 | 0.01 | 0.73 | 0.85 | 0.7 | 0.56 |
| Return ratios | ||||||||
| Return on assets % | 3.4% | 4.9% | 3.8% | 0% | 5.7% | 6.1% | 5.1% | 4.1% |
| Return on capital employed % | 8.3% | 11.2% | 11.8% | 0.1% | 14.3% | 16.3% | 12% | 9.9% |
| Return on equity % | 11.3% | 11.8% | 9.2% | 0.1% | 15% | 15% | 11.8% | 9.3% |
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.