Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 67.4% | 72.2% | 69% | 59% | 67.2% | 60.7% | 64.5% | 60.9% |
| EBITDA margin % | 54.6% | 54.5% | 58.3% | 48.5% | 56.7% | 54.4% | 57.1% | 53.9% |
| EBIT margin % | 51.5% | 49.5% | 55% | 45.9% | 54.9% | 48.9% | 55.1% | 51.9% |
| PAT margin % | 44.1% | 50.8% | 49% | 37.7% | 49.5% | 44.7% | 40.5% | 40% |
| Working capital | ||||||||
| Receivable days | 8 | — | 25 | 20 | 3 | 13 | 9 | 22 |
| Inventory days | 1,197 | — | 2,730 | 2,197 | 5,153 | 2,583 | 2,102 | 1,868 |
| Payable days | 70 | — | 171 | 122 | 47 | 132 | 118 | 70 |
| NWC days | 1,135 | — | 2,584 | 2,095 | 5,110 | 2,464 | 1,992 | 1,820 |
| Leverage | ||||||||
| Current ratio | 16.58 | — | 5.05 | 5.18 | 3.18 | 4.65 | 5.18 | 4.33 |
| Debt to EBITDA | 1.2 | — | 1.56 | 3.49 | 5.89 | 1.34 | 1.32 | 1.06 |
| Debt to equity | 0.11 | — | 0.12 | 0.24 | 0.62 | 0.18 | 0.23 | 0.17 |
| Interest coverage | 45.4 | 36.3 | 49.3 | 18.2 | 10.1 | 40.9 | 10 | 12.2 |
| Asset turnover | 0.15 | — | 0.11 | 0.1 | 0.1 | 0.18 | 0.21 | 0.21 |
| Return ratios | ||||||||
| Return on assets % | 6.4% | — | 5.2% | 3.7% | 5.2% | 8.2% | 8.5% | 8.6% |
| Return on capital employed % | 11% | — | 7.6% | 6.7% | 10.3% | 15.1% | 15.7% | 15.4% |
| Return on equity % | 7.5% | — | 6.2% | 5.4% | 9.2% | 11.4% | 12.3% | 12.2% |
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.