Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 94.1% | 92.8% | 91.4% | 92% | 91.9% | 91.4% |
| EBITDA margin % | 20.3% | 18.2% | -23.2% | 18.6% | 38.5% | 34.3% | 28.9% | 15.7% |
| EBIT margin % | 16.2% | 13.7% | -37.3% | 10.5% | 35.6% | 31% | 25.7% | 11.5% |
| PAT margin % | 14.7% | 12.7% | -24.9% | 13.2% | 29% | 26.3% | 25% | 29.7% |
| Working capital | ||||||||
| Receivable days | 13 | 11 | 12 | 12 | 6 | 9 | 6 | 19 |
| Inventory days | 8 | 9 | 312 | 126 | 48 | 67 | 77 | 70 |
| Payable days | 48 | 23 | 1,060 | 472 | 363 | 338 | 300 | 381 |
| NWC days | -26 | -4 | -735 | -334 | -308 | -262 | -217 | -292 |
| Leverage | ||||||||
| Current ratio | 2.15 | 2.24 | 2.14 | 2.66 | 2.27 | 3 | 3.19 | 2.54 |
| Debt to EBITDA | 0.04 | 0.1 | — | 0.03 | 0 | 0 | 0 | 0 |
| Debt to equity | 0.01 | 0.02 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 41.5 | 19.4 | -9.8 | 16.9 | 98.9 | — | 798.3 | — |
| Asset turnover | 0.92 | 0.84 | 0.31 | 0.51 | 0.96 | 0.83 | 0.69 | 0.49 |
| Return ratios | ||||||||
| Return on assets % | 13.5% | 10.6% | -7.7% | 6.7% | 27.8% | 21.7% | 17.3% | 14.5% |
| Return on capital employed % | 24.7% | 19.1% | -10.1% | 11.5% | 51.9% | 41.1% | 29.1% | 12.4% |
| Return on equity % | 19.2% | 15.5% | -10.8% | 9.2% | 36.7% | 28.6% | 22% | 18.9% |
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.