Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 83.4% | — | — | 52.6% | 50.8% | 60% | 51.2% | 59.1% |
| EBITDA margin % | 10.4% | 65.5% | 85.5% | 41.1% | 43.6% | 50.7% | 38.5% | 38.9% |
| EBIT margin % | 4.7% | 59.9% | 76.3% | 39.4% | 43% | 50% | 37.6% | 38.3% |
| PAT margin % | 107% | 42.3% | 52.3% | 9.1% | 23.6% | 39.3% | 56.1% | 107.2% |
| Working capital | ||||||||
| Receivable days | 11 | — | 51 | 21 | 19 | 21 | 53 | 52 |
| Inventory days | 19,579 | — | 12,973 | 1,245 | 317 | 559 | 599 | 1,009 |
| Payable days | 6,889 | — | 930 | 74 | 17 | 23 | 31 | 41 |
| NWC days | 12,701 | — | 12,094 | 1,192 | 319 | 557 | 621 | 1,021 |
| Leverage | ||||||||
| Current ratio | 2.5 | — | 6.87 | 3.32 | 4.82 | 3.57 | 3.8 | 14.28 |
| Debt to EBITDA | 88.25 | — | 8.61 | 10.13 | 2.84 | 2.08 | 2.76 | 0.02 |
| Debt to equity | 0.49 | — | 0.61 | 0.96 | 0.69 | 0.37 | 0.24 | 0 |
| Interest coverage | 2.9 | 2.1 | 2 | 1.6 | 2.4 | 3.4 | 4.4 | 19.5 |
| Asset turnover | 0.03 | — | 0.05 | 0.11 | 0.31 | 0.24 | 0.17 | 0.08 |
| Return ratios | ||||||||
| Return on assets % | 3.3% | — | 2.5% | 1% | 7.4% | 9.4% | 9.7% | 8.6% |
| Return on capital employed % | 7.7% | — | 5.7% | 6.8% | 17.6% | 17.9% | 13.4% | 13.3% |
| Return on equity % | 5.7% | — | 4.3% | 2.1% | 13.1% | 13.8% | 12.5% | 8.8% |
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.