Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.7% | 97.9% | 98.8% | — | 98.9% | 98.9% | 99% | — |
| EBITDA margin % | 39.9% | 21.4% | 14.7% | 37% | 41.6% | 41.8% | 39.6% | 28.4% |
| EBIT margin % | 29% | 9.1% | -3.2% | 26.6% | 34.8% | 33.8% | 31% | 17.3% |
| PAT margin % | 18.9% | 21.3% | 20.2% | 26.8% | 29.3% | 25.1% | 27.6% | 20.9% |
| Working capital | ||||||||
| Receivable days | 35 | — | 50 | 35 | 35 | 43 | 44 | 61 |
| Inventory days | 2,446 | — | 4,520 | 44 | 2,036 | 2,252 | 3,118 | 50 |
| Payable days | — | — | 2,577 | 26 | 1,111 | 1,243 | 1,789 | 47 |
| NWC days | — | — | 1,993 | 53 | 960 | 1,051 | 1,374 | 64 |
| Leverage | ||||||||
| Current ratio | 1.4 | — | 0.76 | 1.32 | 1.88 | 1.01 | 1.3 | 1.22 |
| Debt to EBITDA | 1.33 | — | 12.42 | 2.17 | 1.15 | 1.22 | 1.38 | 2.19 |
| Debt to equity | 0.26 | — | 0.6 | 0.39 | 0.32 | 0.26 | 0.27 | 0.27 |
| Interest coverage | 11.3 | 5.3 | 3.4 | 7.4 | 13.2 | 13 | 10.1 | 6.6 |
| Asset turnover | 0.29 | — | 0.17 | 0.29 | 0.43 | 0.34 | 0.32 | 0.28 |
| Return ratios | ||||||||
| Return on assets % | 5.5% | — | 3.4% | 7.8% | 12.6% | 8.5% | 8.8% | 5.8% |
| Return on capital employed % | 13.7% | — | 4% | 13.3% | 20.1% | 18.7% | 15% | 10.1% |
| Return on equity % | 9.3% | — | 6.6% | 13% | 19.8% | 12.6% | 13.5% | 9.2% |
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.