Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 33.8% | 41.6% | 23% | 34.8% | 29% | 37.3% | 35.9% | 40.1% |
| EBIT margin % | 18% | 29.1% | 4.3% | 12.3% | 5.8% | 21.4% | 17.1% | 25.5% |
| PAT margin % | 25.3% | 35.6% | 42.6% | 25.8% | 10.4% | 28% | 18.7% | 26.9% |
| Working capital | ||||||||
| Receivable days | — | 153 | 122 | 47 | 96 | 122 | 94 | 125 |
| Inventory days | — | 30 | 36 | 51 | 47 | 39 | 37 | 35 |
| Payable days | — | 257 | 68 | 39 | 73 | 79 | 44 | 35 |
| NWC days | — | -73 | 90 | 59 | 71 | 81 | 87 | 125 |
| Leverage | ||||||||
| Current ratio | — | 1.64 | 3.32 | 3.47 | 1.66 | 2.35 | 1.58 | 1.9 |
| Debt to EBITDA | — | 0 | 0 | 0.61 | 0.46 | 0.9 | 0.8 | 0.76 |
| Debt to equity | — | 0 | 0 | 0.1 | 0.08 | 0.26 | 0.18 | 0.22 |
| Interest coverage | 130.9 | 133.9 | 68.5 | 23.9 | 11.7 | 16.2 | 10.9 | 15.8 |
| Asset turnover | — | 0.56 | 0.36 | 0.39 | 0.47 | 0.53 | 0.48 | 0.53 |
| Return ratios | ||||||||
| Return on assets % | — | 20% | 15.4% | 9.9% | 4.8% | 15% | 8.9% | 14.3% |
| Return on capital employed % | — | 28.1% | 8.2% | 12.5% | 5.4% | 20.5% | 13.5% | 21.4% |
| Return on equity % | — | 27.3% | 17.1% | 11.7% | 6% | 21.4% | 11.7% | 19.7% |
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.