Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 63.5% | 43.4% | 22.7% | 29.2% | 37.4% | 34.5% |
| EBITDA margin % | 25.6% | 23.1% | 37.8% | 18.6% | -0.7% | 8.5% | 11.7% | 10.4% |
| EBIT margin % | 24.1% | 20.7% | 33.8% | 15.5% | -4.3% | 3.8% | 7.1% | 6% |
| PAT margin % | 17.1% | 12.8% | 25.1% | 11.1% | -5.4% | 1% | 1.9% | 2.7% |
| Working capital | ||||||||
| Receivable days | — | — | 37 | 33 | 45 | 67 | 49 | 53 |
| Inventory days | — | — | 314 | 319 | 174 | 152 | 288 | 304 |
| Payable days | — | — | 71 | 41 | 29 | 22 | 47 | 43 |
| NWC days | — | — | 280 | 311 | 190 | 197 | 290 | 314 |
| Leverage | ||||||||
| Current ratio | — | — | 3.55 | 1.76 | 1.41 | 1.32 | 1.08 | 1.25 |
| Debt to EBITDA | — | — | 0.19 | 2.15 | — | 4.73 | 5.38 | 5.46 |
| Debt to equity | — | — | 0.1 | 0.64 | 0.63 | 0.58 | 0.89 | 0.94 |
| Interest coverage | 28.2 | 15 | 115.4 | 20 | -1.5 | 1.2 | 1.5 | 1.8 |
| Asset turnover | — | — | 1.09 | 0.9 | 0.96 | 0.86 | 0.69 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | — | — | 27.2% | 10% | -5.2% | 0.9% | 1.3% | 2.1% |
| Return on capital employed % | — | — | 44.8% | 25.6% | -5.7% | 5.9% | 9.9% | 14.2% |
| Return on equity % | — | — | 33.7% | 17.8% | -9.1% | 1.5% | 2.7% | 4.5% |
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.