Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 49.1% | 54.1% | 44.8% | 55.6% | 46.1% | 53.5% |
| EBITDA margin % | 22.4% | 24.7% | 13.6% | 17.7% | 7.1% | 18% |
| EBIT margin % | 20.1% | 22.8% | 11.2% | 10.9% | -0.5% | 10.6% |
| PAT margin % | 17.6% | 22.4% | 10% | 7.8% | 0.1% | 7.9% |
| Working capital | ||||||
| Receivable days | 113 | 53 | 82 | 65 | 76 | 106 |
| Inventory days | 168 | 299 | 249 | 313 | 228 | 268 |
| Payable days | 116 | 82 | 52 | 96 | 60 | 91 |
| NWC days | 166 | 269 | 278 | 282 | 244 | 283 |
| Leverage | ||||||
| Current ratio | 1.53 | 2.34 | 1.27 | 3.37 | 2.51 | 1.5 |
| Debt to EBITDA | 1.38 | 1.13 | 3.11 | 0.21 | 1.41 | 1.35 |
| Debt to equity | 0.56 | 0.26 | 0.34 | 0.02 | 0.05 | 0.16 |
| Interest coverage | 15.1 | 22.4 | 6.1 | 7.5 | 1.4 | 19.7 |
| Asset turnover | 0.94 | 0.63 | 0.53 | 0.46 | 0.45 | 0.5 |
| Return ratios | ||||||
| Return on assets % | 16.6% | 14.2% | 5.4% | 3.6% | 0% | 3.9% |
| Return on capital employed % | 33% | 32% | 10.2% | 7.9% | 0.2% | 7.5% |
| Return on equity % | 31.7% | 20.5% | 8% | 4% | 0% | 5.2% |
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.