Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 82.6% | 80.8% | 82.3% | 82.8% | 80.9% | 76.2% | 75% |
| EBITDA margin % | 5.2% | 21.5% | 20.9% | 18.6% | 13.9% | 18.4% | 7.9% | 9.4% |
| EBIT margin % | -0.3% | 16.2% | 15.6% | 13.6% | 9% | 14% | 3.8% | 5.2% |
| PAT margin % | 0.5% | 12% | 10.7% | 8.8% | 8% | 11.1% | 3.5% | 3.3% |
| Working capital | ||||||||
| Receivable days | 12 | 8 | 8 | 8 | 11 | 15 | 9 | 18 |
| Inventory days | 52 | 291 | 284 | 414 | 338 | 322 | 232 | 216 |
| Payable days | 47 | 213 | 194 | 204 | 184 | 161 | 277 | 175 |
| NWC days | 16 | 85 | 98 | 217 | 165 | 176 | -35 | 59 |
| Leverage | ||||||||
| Current ratio | 0.86 | 1.7 | 2.11 | 1.91 | 2.06 | 1.99 | 1.29 | 2.74 |
| Debt to EBITDA | 1.78 | — | 0 | 0 | 0 | 0 | 1.92 | 7.28 |
| Debt to equity | 0.18 | — | 0 | 0 | 0 | 0 | 0.3 | 1.4 |
| Interest coverage | 2 | 44 | 53.2 | 61.4 | 54 | 56.8 | 13.5 | 4.5 |
| Asset turnover | 1.2 | 1.24 | 1.16 | 1.36 | 1.55 | 1.48 | 1.04 | 0.71 |
| Return ratios | ||||||||
| Return on assets % | 0.6% | 14.9% | 12.5% | 12% | 12.3% | 16.4% | 3.6% | 2.4% |
| Return on capital employed % | 3% | 30.3% | 27.4% | 26.8% | 21.1% | 32.5% | 8.6% | 6.6% |
| Return on equity % | 0.9% | 20.4% | 17.4% | 17.7% | 17.8% | 23% | 6.9% | 6.8% |
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.