Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 93.7% | 78.5% | 85.7% | 76.3% | ||||
| 75.3% |
| 68.3% |
| 65% |
| 65.7% |
| EBITDA margin % | 7.4% | 7.6% | -23% | -0.6% | 16.5% | 19.3% | 15.1% | 17.4% |
| EBIT margin % | 5.4% | 5.5% | -26.8% | -2.9% | 15% | 18% | 14% | 16.1% |
| PAT margin % | 12% | 6.7% | -15.5% | 2.4% | 13.2% | 13.7% | 14.7% | 15.9% |
| Working capital | ||||||||
| Receivable days | 101 | 106 | 139 | 92 | 63 | 53 | 78 | 77 |
| Inventory days | 165 | 49 | 156 | 53 | 33 | 27 | 34 | 36 |
| Payable days | — | — | 667 | 331 | 300 | 192 | 228 | 159 |
| NWC days | — | — | -371 | -186 | -204 | -112 | -116 | -46 |
| Leverage | ||||||||
| Current ratio | 2.15 | 2.46 | 2.26 | 2.12 | 1.62 | 1.53 | 1.95 | 2.13 |
| Debt to EBITDA | — | — | — | — | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 75.3 | 43.1 | -21 | 7.2 | 107.3 | 35.8 | 110.6 | 68.9 |
| Asset turnover | 0.52 | 0.53 | 0.31 | 0.47 | 0.48 | 0.48 | 0.73 | 0.67 |
| Return ratios | ||||||||
| Return on assets % | 6.3% | 3.6% | -4.7% | 1.1% | 6.3% | 6.6% | 10.7% | 10.6% |
| Return on capital employed % | 10% | 9.6% | -6.5% | 1.9% | 21.7% | 25.9% | 23.4% | 25.9% |
| Return on equity % | 11.9% | 6.5% | -8.7% | 2.1% | 16% | 16.9% | 20.7% | 18.2% |
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.