Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 69% | 70.6% | 76.3% | 60.5% | 40.6% | 50.1% | 41.3% | 51.8% |
| EBITDA margin % | 44.4% | 45.8% | 61.8% | 48.5% | 31.5% | 34.1% | 28% | 39.1% |
| EBIT margin % | 31.4% | 33.1% | 45.8% | 42.2% | 27.6% | 29.2% | 24.8% | 33.4% |
| PAT margin % | 25.8% | 11% | 14.1% | 20.4% | 16.1% | 14.3% | 15.9% | 19.7% |
| Working capital | ||||||||
| Receivable days | 143 | 175 | 176 | 57 | 40 | 153 | 101 | 116 |
| Inventory days | 526 | 728 | 600 | 346 | 167 | 295 | 115 | 434 |
| Payable days | 225 | 874 | 319 | 178 | 164 | 276 | 154 | 137 |
| NWC days | 443 | 29 | 457 | 226 | 43 | 172 | 62 | 413 |
| Leverage | ||||||||
| Current ratio | 3.09 | 1.07 | 2.15 | 1.3 | 1.13 | 1.53 | 2.33 | 1.51 |
| Debt to EBITDA | 2.23 | 5.12 | 3.23 | 2.3 | 2.91 | 3.18 | 2.71 | 6 |
| Debt to equity | 0.34 | 1.42 | 1.84 | 1.57 | 1.96 | 1.05 | 0.61 | 1.85 |
| Interest coverage | 2.8 | 2.5 | 1.9 | 2.6 | 3.7 | 2.8 | 6 | 4.2 |
| Asset turnover | 0.21 | 0.16 | 0.23 | 0.32 | 0.47 | 0.34 | 0.39 | 0.22 |
| Return ratios | ||||||||
| Return on assets % | 5.5% | 1.7% | 3.2% | 6.5% | 7.6% | 4.9% | 6.1% | 4.4% |
| Return on capital employed % | 7.7% | 9% | 13.8% | 20.5% | 21.3% | 20.1% | 17.2% | 13.3% |
| Return on equity % | 9% | 6.6% | 12.9% | 28.7% | 34.3% | 13.9% | 12.6% | 15.6% |
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.