Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 40.7% | 39% | 37.9% | 38.2% | 37.4% | 37.1% | 37.3% |
| EBITDA margin % | 1.4% | 4% | 7.9% | 9.5% | 8.2% | 7.5% | 3.8% | 3.1% |
| EBIT margin % | -0.1% | 2.7% | 6.6% | 8% | 6.7% | 5.7% | 1.8% | 1.1% |
| PAT margin % | 3.8% | 4.8% | 7.4% | 12.6% | 13.7% | 15.4% | 17.6% | 14.1% |
| Working capital | ||||||||
| Receivable days | — | — | 133 | 124 | 185 | 139 | 153 | 141 |
| Inventory days | — | — | 102 | 81 | 81 | 73 | 92 | 73 |
| Payable days | — | — | 152 | 78 | 96 | 63 | 97 | 98 |
| NWC days | — | — | 82 | 127 | 169 | 149 | 148 | 116 |
| Leverage | ||||||||
| Current ratio | — | — | 3.66 | 4.39 | 4.9 | 5.65 | 4.08 | 4.06 |
| Debt to EBITDA | — | — | 0 | 0.55 | 0.34 | 0.64 | 0 | 0.46 |
| Debt to equity | — | — | 0 | 0.04 | 0.02 | 0.03 | 0 | 0.01 |
| Interest coverage | 9 | 26.4 | 108.9 | 82.6 | 73.5 | 54 | 96.7 | 58.4 |
| Asset turnover | — | — | 0.65 | 0.68 | 0.52 | 0.56 | 0.48 | 0.42 |
| Return ratios | ||||||||
| Return on assets % | — | — | 4.8% | 8.6% | 7.1% | 8.7% | 8.4% | 5.9% |
| Return on capital employed % | — | — | 9.3% | 15.8% | 11.5% | 13.5% | 14.9% | 8.8% |
| Return on equity % | — | — | 6.2% | 10.7% | 8.7% | 10.4% | 10.8% | 7.6% |
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.