Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 52.3% | 45.4% | 47.3% | 48.3% | 48% | 47% | 47.2% | 47.6% |
| EBITDA margin % | 14.1% | 12% | 11.7% | 12.8% | 11.5% | 12.8% | 12.3% | 12.5% |
| EBIT margin % | 12% | 9.7% | 9% | 10.5% | 9.5% | 11% | 10.4% | 10.5% |
| PAT margin % | 5% | 5.1% | 5.2% | 6% | 6.1% | 7.5% | 7.1% | 7.3% |
| Working capital | ||||||||
| Receivable days | 56 | 61 | 70 | — | 55 | 61 | 58 | 70 |
| Inventory days | 124 | 104 | 120 | — | 98 | 90 | 113 | 94 |
| Payable days | — | 101 | 127 | — | 83 | 60 | 52 | 48 |
| NWC days | — | 63 | 63 | — | 70 | 91 | 118 | 117 |
| Leverage | ||||||||
| Current ratio | 1.11 | 1.17 | 1.21 | — | 1.45 | 1.66 | 1.72 | 1.94 |
| Debt to EBITDA | 1.67 | 1.65 | 1.47 | — | 1.18 | 1.12 | 1.22 | 1.09 |
| Debt to equity | 0.67 | 0.56 | 0.37 | — | 0.3 | 0.3 | 0.31 | 0.26 |
| Interest coverage | 2.6 | 2.7 | 1.9 | 3.3 | 4.2 | 6.6 | 5.8 | 6.8 |
| Asset turnover | 1.19 | 1.22 | 1.08 | — | 1.3 | 1.28 | 1.3 | 1.26 |
| Return ratios | ||||||||
| Return on assets % | 5.9% | 6.2% | 5.6% | — | 7.9% | 9.6% | 9.2% | 9.2% |
| Return on capital employed % | 25.3% | 23.8% | 18.2% | — | 20.3% | 24.3% | 23% | 21.1% |
| Return on equity % | 14.3% | 14.4% | 11.3% | — | 13.4% | 15.5% | 14.8% | 13.9% |
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.