Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 98.4% | 86.9% | 91.7% | 90.4% | 91.6% | 91.8% |
| EBITDA margin % | 21.6% | 10.5% | 38.2% | 30.2% | 3.6% | 11.3% | 14.8% | 15.7% |
| EBIT margin % | 9.5% | -7.6% | 31.1% | 23.7% | -10.3% | -3.1% | 2.7% | 5.2% |
| PAT margin % | 5.4% | -36.3% | 27.8% | 21.7% | -8.3% | -2.7% | 1.7% | 3.1% |
| Working capital | ||||||||
| Receivable days | — | — | 112 | 49 | 118 | 113 | 120 | 125 |
| Inventory days | — | — | 2,774 | 72 | 105 | 100 | 93 | 133 |
| Payable days | — | — | 1,482 | 99 | 319 | 184 | 273 | 432 |
| NWC days | — | — | 1,404 | 22 | -96 | 29 | -60 | -174 |
| Leverage | ||||||||
| Current ratio | — | — | 1.59 | 2.42 | 2.68 | 2.97 | 3.52 | 3.1 |
| Debt to EBITDA | — | — | 0.51 | 0.74 | 4.76 | 0.97 | 1.27 | 1.37 |
| Debt to equity | — | — | 0.22 | 0.25 | 0.13 | 0.09 | 0.16 | 0.16 |
| Interest coverage | 2 | -0 | 8.4 | 20.1 | -2.8 | -0.7 | 1.7 | 2.9 |
| Asset turnover | — | — | 0.63 | 0.73 | 0.57 | 0.64 | 0.62 | 0.54 |
| Return ratios | ||||||||
| Return on assets % | — | — | 17.7% | 15.7% | -4.7% | -1.8% | 1% | 1.7% |
| Return on capital employed % | — | — | 33.7% | 38.6% | -4.9% | -1% | 3.2% | 5.5% |
| Return on equity % | — | — | 31.1% | 24.2% | -6.2% | -2.2% | 1.5% | 2.3% |
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.