Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 76.6% | 75.2% | 72.3% | 71.4% | 75.7% | 70.4% | 73.2% | 80.3% |
| EBIT margin % | 61.9% | 61% | 56.5% | 54.7% | 62.4% | 49.3% | 57.6% | 62.5% |
| PAT margin % | 51.4% | 61.2% | 65.6% | 40.4% | 46.5% | 35.9% | 33.5% | 28.4% |
| Working capital | ||||||||
| Receivable days | 38 | 101 | 77 | 87 | 34 | 24 | 67 | 134 |
| Inventory days | 26 | 27 | 30 | 33 | 37 | 40 | 39 | 43 |
| Payable days | 14 | 18 | 22 | 20 | 24 | 31 | 21 | 20 |
| NWC days | 50 | 110 | 84 | 100 | 47 | 32 | 85 | 157 |
| Leverage | ||||||||
| Current ratio | — | — | 1.75 | 2.05 | 2.31 | 2.27 | 1.82 | 0.64 |
| Debt to EBITDA | 0.95 | 0.97 | 1.2 | 3.19 | 3.21 | 5.38 | 4.95 | 3.67 |
| Debt to equity | 0.17 | 0.17 | 0.17 | 0.42 | 0.52 | 0.68 | 0.74 | 0.71 |
| Interest coverage | 8.1 | 7.6 | -747.5 | 9.5 | 5.1 | 3.4 | 2.8 | 2.8 |
| Asset turnover | 0.18 | 0.17 | 0.15 | 0.12 | 0.13 | 0.1 | 0.11 | 0.13 |
| Return ratios | ||||||||
| Return on assets % | 9.1% | 10.7% | 9.7% | 4.7% | 5.9% | 3.5% | 3.6% | 3.7% |
| Return on capital employed % | — | — | 13.8% | 8.9% | 11% | 6.9% | 8.3% | 10.9% |
| Return on equity % | 12.1% | 14% | 12.8% | 7.4% | 9.9% | 6.5% | 6.8% | 6.9% |
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.