Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 51.5% | 42.9% | 34.7% | 38.4% | 43% | 38.2% |
| EBITDA margin % | 33.8% | 31.3% | 28.1% | 24.6% | 30.7% | 33% | 37.3% | 33.7% |
| EBIT margin % | 33.8% | 30.8% | 27.6% | 24.3% | 30.3% | 32.8% | 36.9% | 33.4% |
| PAT margin % | 19.3% | 8.7% | 8.2% | 10% | 19.7% | 17.5% | 21% | 18.2% |
| Working capital | ||||||||
| Receivable days | 179 | 190 | 161 | 124 | 137 | 135 | 186 | 184 |
| Inventory days | 1,000 | 993 | 1,394 | 954 | 1,005 | 744 | 630 | 560 |
| Payable days | — | — | 57 | 47 | 31 | 19 | 37 | 20 |
| NWC days | — | — | 1,499 | 1,030 | 1,112 | 860 | 779 | 724 |
| Leverage | ||||||||
| Current ratio | 5.85 | 4.92 | 9.7 | 11.82 | 19.84 | 16.09 | 5.7 | 7.65 |
| Debt to EBITDA | 5.8 | 7.21 | 7.89 | 7.56 | 6.42 | 4.42 | 2.54 | 2.33 |
| Debt to equity | 1.2 | 1.25 | 1.07 | 1.18 | 1.01 | 0.92 | 0.46 | 0.46 |
| Interest coverage | 2.7 | 1.6 | 1.6 | 2.1 | 5.7 | 3.2 | 3.4 | 4.5 |
| Asset turnover | 0.22 | 0.21 | 0.2 | 0.26 | 0.23 | 0.31 | 0.31 | 0.37 |
| Return ratios | ||||||||
| Return on assets % | 4.2% | 1.8% | 1.6% | 2.6% | 4.6% | 5.4% | 6.5% | 6.6% |
| Return on capital employed % | 11.5% | 7.3% | 5.9% | 7.1% | 7.6% | 10.9% | 13.5% | 14.3% |
| Return on equity % | 11.9% | 4.9% | 3.9% | 6.3% | 10.1% | 11% | 10.2% | 10.5% |
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.