Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 79.4% | 89.6% | — | — | — | 57.7% | 77.4% |
| EBITDA margin % | 6.2% | 13.1% | 28.8% | 32.8% | 31.1% | 33.6% | 26.8% | 41.6% |
| EBIT margin % | 5.6% | 12.2% | 27.6% | 30.5% | 28.1% | 29.1% | 21.5% | 32.3% |
| PAT margin % | 9.9% | 9.8% | 24.6% | 26.5% | 26% | 26.8% | 20.1% | 26.2% |
| Working capital | ||||||||
| Receivable days | 79 | 81 | 75 | 69 | 79 | 69 | 45 | 62 |
| Inventory days | 69 | 315 | 527 | 99 | 124 | 162 | 197 | 462 |
| Payable days | 0 | — | 0 | 59 | 51 | 48 | 94 | 237 |
| NWC days | 147 | — | 602 | 109 | 152 | 183 | 148 | 287 |
| Leverage | ||||||||
| Current ratio | 1.61 | 1.99 | 2 | 5.01 | 4.05 | 4.56 | 2.87 | 1.73 |
| Debt to EBITDA | 1.88 | 0.1 | — | — | 0 | 0 | 0 | 0.28 |
| Debt to equity | 0.14 | 0.02 | — | — | 0 | 0 | 0 | 0.06 |
| Interest coverage | 13.6 | 10.8 | 43.2 | 45.8 | 43.6 | 81.3 | 303 | 106.4 |
| Asset turnover | 0.76 | 0.81 | 0.56 | 0.34 | 0.41 | 0.41 | 0.5 | 0.36 |
| Return ratios | ||||||||
| Return on assets % | 7.5% | 7.9% | 13.8% | 9% | 10.7% | 11% | 10% | 9.6% |
| Return on capital employed % | 20.4% | 15.3% | 29.1% | 20.7% | 17.7% | 18.7% | 16.9% | 17.7% |
| Return on equity % | 12.2% | 11.8% | 21% | 11% | 13.5% | 13.9% | 12.9% | 12.7% |
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.