Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 93.5% | 93.8% | 94.5% | 95% | 96% | 96.3% | 96.3% | 96.5% |
| EBITDA margin % | 33.3% | 39.1% | 19.7% | 31% | 56% | 53.3% | 51.4% | 49.2% |
| EBIT margin % | 26.1% | 31.1% | -8.5% | 14.7% | 49.6% | 47.4% | 46.3% | 44.7% |
| PAT margin % | 23.1% | 11.9% | -51% | -12.4% | 25.9% | 27.1% | 26.1% | 24.5% |
| Working capital | ||||||||
| Receivable days | 66 | 108 | 353 | 108 | 76 | 20 | 33 | 30 |
| Inventory days | 42 | 51 | 160 | 118 | 76 | 73 | 64 | 54 |
| Payable days | 985 | 26 | 3,564 | 1,623 | 931 | 689 | 493 | 554 |
| NWC days | -877 | 133 | -3,051 | -1,397 | -779 | -596 | -396 | -469 |
| Leverage | ||||||||
| Current ratio | 1.52 | 1.25 | 1.4 | 1 | 0.8 | 0.73 | 0.62 | 0.83 |
| Debt to EBITDA | 3.09 | 3.1 | 34.51 | 12.82 | 3.12 | 1.58 | 1.15 | 0.73 |
| Debt to equity | 0.27 | 0.31 | 0.54 | 0.52 | 0.51 | 0.26 | 0.18 | 0.12 |
| Interest coverage | 2.5 | 1.9 | -0.1 | 0.5 | 3.8 | 4 | 4.9 | 7.4 |
| Asset turnover | 0.19 | 0.17 | 0.05 | 0.08 | 0.19 | 0.21 | 0.23 | 0.25 |
| Return ratios | ||||||||
| Return on assets % | 4.5% | 2% | -2.5% | -1% | 4.8% | 5.8% | 5.9% | 6.2% |
| Return on capital employed % | 6.3% | 6.2% | -0.2% | 1.5% | 10.3% | 11.7% | 11.4% | 12.3% |
| Return on equity % | 6.1% | 3.1% | -4.1% | -1.6% | 7.5% | 8.4% | 8% | 7.9% |
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.