Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 67% | 69.1% | 77.9% | 66.8% | 71.2% | 74.8% | 62.4% |
| EBITDA margin % | 26.2% | 30.4% | 27.3% | 6.1% | -17.8% | 8.5% | 26.1% | 26.1% |
| EBIT margin % | 20.6% | 26% | 22.4% | -3.7% | -36.6% | -7.5% | 15.9% | 16.9% |
| PAT margin % | 18.7% | 24% | 22.2% | 39.5% | 23.1% | 8.7% | 14.6% | 22.3% |
| Working capital | ||||||||
| Receivable days | 112 | 103 | 96 | 105 | 165 | 169 | 146 | 136 |
| Inventory days | 140 | 283 | 425 | 471 | 420 | 458 | 450 | 285 |
| Payable days | 60 | 105 | 81 | 111 | 142 | 215 | 67 | 138 |
| NWC days | 192 | 281 | 440 | 466 | 443 | 412 | 528 | 282 |
| Leverage | ||||||||
| Current ratio | 2.15 | 2.52 | 1.67 | 1.91 | 2.63 | 1.67 | 2.1 | 1.9 |
| Debt to EBITDA | 0.97 | 1.31 | 2.52 | 8.95 | — | 5.42 | 0.86 | 0.83 |
| Debt to equity | 0.14 | 0.22 | 0.35 | 0.09 | 0.14 | 0.07 | 0.04 | 0.05 |
| Interest coverage | 52.7 | 51.1 | 12.6 | 3.1 | -1.1 | 3.8 | 24.2 | 13.8 |
| Asset turnover | 0.41 | 0.4 | 0.33 | 0.12 | 0.1 | 0.13 | 0.16 | 0.2 |
| Return ratios | ||||||||
| Return on assets % | 7.7% | 9.6% | 7.3% | 4.9% | 2.3% | 1.1% | 2.3% | 4.4% |
| Return on capital employed % | 11.2% | 14.7% | 11.9% | 1.2% | -0.9% | 2.9% | 6.4% | 5% |
| Return on equity % | 10.4% | 13.3% | 11.3% | 6.8% | 2.7% | 1.3% | 2.6% | 4.9% |
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.