Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 90.2% | 96.4% | 84.3% | 98.4% | 96.8% | — | 95.6% | — |
| EBITDA margin % | 11.6% | 5.2% | 9.7% | 10% | 11.5% | -5.6% | 10.2% | 5.2% |
| EBIT margin % | 7.9% | 3.3% | 8.7% | 8.8% | 10.3% | -7.2% | 7.2% | 1.7% |
| PAT margin % | 6% | 1.8% | 4.9% | 6.3% | 7.4% | -1.2% | 4.7% | 0.6% |
| Working capital | ||||||||
| Receivable days | — | — | — | 26 | 6 | 52 | 12 | 3 |
| Inventory days | — | — | — | 5,910 | 3,537 | 51 | 1,008 | 96 |
| Payable days | — | — | — | 842 | 129 | 11 | 210 | 0 |
| NWC days | — | — | — | 5,093 | 3,415 | 91 | 811 | 100 |
| Leverage | ||||||||
| Current ratio | — | — | — | 2.37 | 2.19 | 6.78 | 4.94 | 6.87 |
| Debt to EBITDA | — | — | — | 0.3 | 0.36 | — | 0.27 | 0.29 |
| Debt to equity | — | — | — | 0.04 | 0.06 | 0.02 | 0.03 | 0.01 |
| Interest coverage | 2.5 | 1.8 | 18.3 | 19.4 | 22.2 | -1.9 | 6.7 | 1.8 |
| Asset turnover | — | — | — | 0.85 | 0.95 | 1.02 | 0.87 | 0.71 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 5.3% | 7% | -1.2% | 4% | 0.4% |
| Return on capital employed % | — | — | — | 10.1% | 15% | -1.3% | 8.4% | 2.8% |
| Return on equity % | — | — | — | 7.5% | 10.5% | -1.6% | 5.2% | 0.6% |
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.