Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 65% | — | — | — | — | — | — | — |
| EBITDA margin % | 39.6% | 21.8% | 25% | 25.9% | 13.6% | 11.4% | 13.8% | 3.2% |
| EBIT margin % | 37.3% | 19.4% | 22.8% | 24.4% | 11% | 8.7% | 11% | 0.8% |
| PAT margin % | 24.1% | 10.4% | 16.8% | 17.8% | 2.2% | 3.7% | 9.1% | 1.6% |
| Working capital | ||||||||
| Receivable days | 88 | 104 | 97 | 79 | 75 | 72 | 66 | 71 |
| Inventory days | 495 | 285 | 361 | 393 | 396 | 336 | 352 | 285 |
| Payable days | 198 | 93 | 94 | 86 | 102 | 76 | 65 | 72 |
| NWC days | 385 | 296 | 364 | 386 | 369 | 331 | 353 | 284 |
| Leverage | ||||||||
| Current ratio | 2.81 | 3.8 | 4.02 | 4.86 | 3.97 | 4.57 | 6.28 | 4.95 |
| Debt to EBITDA | 0.27 | 0.21 | 0.23 | 0 | 0.01 | 0.01 | 0.15 | 0.74 |
| Debt to equity | 0.1 | 0.04 | 0.04 | 0 | 0 | 0 | 0.02 | 0.02 |
| Interest coverage | 21.4 | 11.7 | 33.9 | 48.4 | 16.1 | 11.8 | 35.2 | 3.3 |
| Asset turnover | 0.63 | 0.7 | 0.59 | 0.62 | 0.59 | 0.64 | 0.61 | 0.59 |
| Return ratios | ||||||||
| Return on assets % | 15.2% | 7.2% | 9.9% | 11.1% | 1.3% | 2.4% | 5.5% | 0.9% |
| Return on capital employed % | 36.5% | 20.2% | 20.9% | 20.7% | 10.9% | 8% | 9.8% | 1.3% |
| Return on equity % | 23.2% | 9.8% | 12.8% | 13.6% | 1.7% | 3% | 6.6% | 1.1% |
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.