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Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 92.5% | 97.5% | 87.6% | 94.9% | 95.8% | 96.6% |
| EBITDA margin % | 5.6% | 4.4% | 2.3% | 10.4% | 11.2% | 12.3% | 11.6% | 11.1% |
| EBIT margin % | 3.8% | 0.3% | 1.3% | 9.1% | 8.2% | 9.4% | -5.8% | 3.1% |
| PAT margin % | 5.5% | 2.9% | 2.5% | 7.9% | 7.6% | 7.7% | 8.3% | 4.5% |
| Working capital | ||||||||
| Receivable days | 256 | 231 | 121 | 154 | 296 | 210 | 680 | 388 |
| Inventory days | — | 11 | 30 | 87 | 23 | 366 | 2,041 | 1,010 |
| Payable days | 106 | 104 | 1,809 | 7,121 | 2,078 | 4,570 | 15,266 | 7,952 |
| NWC days | — | 138 | -1,658 | -6,880 | -1,759 | -3,994 | -12,544 | -6,555 |
| Leverage | ||||||||
| Current ratio | — | — | 1.32 | 1.23 | 1.27 | 1.62 | 1.77 | 1.97 |
| Debt to EBITDA | 2.31 | 0.05 | 1.01 | 0.29 | 0.43 | 1.08 | 3.46 | 0.93 |
| Debt to equity | 0.29 | 0 | 0.09 | 0.12 | 0.12 | 0.18 | 0.13 | 0.06 |
| Interest coverage | 3.5 | 2.4 | 14.7 | 23.9 | 27.6 | 40.7 | 2.5 | 6 |
| Asset turnover | 0.8 | 0.71 | 1.17 | 1.09 | 0.74 | 0.59 | 0.17 | 0.34 |
| Return ratios | ||||||||
| Return on assets % | 4.4% | 2.1% | 2.9% | 8.6% | 5.6% | 4.5% | 1.4% | 1.5% |
| Return on capital employed % | — | — | 14.5% | 46.2% | 31.1% | 20% | 4.2% | 4.8% |
| Return on equity % | 12.3% | 5.4% | 9.8% | 31.1% | 18.9% | 10.2% | 2.7% | 2.6% |
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.