Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 42.1% | 43.9% | 43.1% | 45% | 42.4% |
| EBITDA margin % | 16.2% | 19.3% | 19% | 17% | 13.3% | 13.8% | 15.2% | 14.6% |
| EBIT margin % | 9.2% | 12% | 10.5% | 8.7% | 9.5% | 9.9% | 10.8% | 10.7% |
| PAT margin % | 5.5% | 7.7% | 6.6% | 9.8% | 8.4% | 4.8% | 4.2% | 5.2% |
| Working capital | ||||||||
| Receivable days | 56 | 51 | — | 81 | 52 | 61 | 108 | 59 |
| Inventory days | 164 | 116 | — | 189 | 172 | 185 | 238 | 264 |
| Payable days | 10 | 19 | — | 21 | 27 | 32 | 55 | 29 |
| NWC days | 210 | 148 | — | 248 | 197 | 214 | 292 | 294 |
| Leverage | ||||||||
| Current ratio | 5.43 | 4.14 | — | 2.18 | 2.07 | 2.8 | 3.22 | 6.32 |
| Debt to EBITDA | 3.75 | 1.71 | — | 2.34 | 2.63 | 1.99 | 2.28 | 1.68 |
| Debt to equity | 1.05 | 0.57 | — | 0.45 | 0.53 | 0.33 | 0.36 | 0.27 |
| Interest coverage | — | 2.6 | 3.2 | 3.9 | 5 | 3.7 | 3.1 | 3.1 |
| Asset turnover | 0.76 | 0.93 | — | 0.7 | 0.9 | 0.81 | 0.67 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | 4.1% | 7.1% | — | 6.9% | 7.6% | 3.9% | 2.8% | 4% |
| Return on capital employed % | 10.6% | 15.4% | — | 11.4% | 12.2% | 9.9% | 9.2% | 9.8% |
| Return on equity % | 9.5% | 13.3% | — | 11.1% | 12.7% | 5.8% | 4.4% | 5.8% |
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.