Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 74.9% | 72% | 69.1% | 65.6% | 66.4% | 55.3% |
| EBITDA margin % | 16% | 16.8% | 21.4% | 20.8% | 22.2% | 19.8% | 15.2% | 10.5% |
| EBIT margin % | 10% | 10.8% | 12.6% | 12.7% | 14.6% | 13.1% | 8.1% | 4.1% |
| PAT margin % | 7.2% | 6.3% | 2.7% | 5.3% | 9.3% | 9.7% | 14.5% | 11.4% |
| Working capital | ||||||||
| Receivable days | 106 | — | 141 | 125 | 106 | 148 | 143 | 180 |
| Inventory days | 126 | — | 465 | 450 | 366 | 249 | 353 | 255 |
| Payable days | — | — | 240 | 132 | 108 | 57 | 69 | 47 |
| NWC days | — | — | 367 | 444 | 364 | 340 | 427 | 387 |
| Leverage | ||||||||
| Current ratio | 0.98 | — | 1.11 | 1.09 | 1.52 | 2.83 | 11.17 | 2.61 |
| Debt to EBITDA | 5.5 | — | 5.05 | 5.14 | 2.9 | 2.93 | 0.35 | 2.34 |
| Debt to equity | 0.95 | — | 1.14 | 1.16 | 0.47 | 0.23 | 0.01 | 0.05 |
| Interest coverage | 2.1 | 2.2 | 1.9 | 2 | 2.7 | 3.2 | 7 | 10.2 |
| Asset turnover | 0.44 | — | 0.42 | 0.43 | 0.43 | 0.3 | 0.17 | 0.19 |
| Return ratios | ||||||||
| Return on assets % | 3.2% | — | 1.1% | 2.3% | 4% | 2.9% | 2.5% | 2.2% |
| Return on capital employed % | 8.6% | — | 9.6% | 10.8% | 12.6% | 8.7% | 5.4% | 3.6% |
| Return on equity % | 7.8% | — | 2.8% | 5.7% | 6.8% | 3.9% | 2.6% | 2.4% |
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.