Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 20.7% | 23.2% | 24.6% | 22.6% | 26.1% | 23.1% | 21% | 21.2% |
| EBITDA margin % | 6.1% | 6.5% | 6.3% | 5.8% | 8.7% | 9.8% | 8.4% | 8.3% |
| EBIT margin % | 5.3% | 5.4% | 4.8% | 4.8% | 8% | 9.1% | 7.7% | 7.7% |
| PAT margin % | 1.9% | 2% | 2.3% | 2.7% | 4.6% | 5.5% | 4.5% | 4.4% |
| Working capital | ||||||||
| Receivable days | 100 | — | 110 | 103 | 83 | 90 | 82 | 88 |
| Inventory days | 74 | — | 120 | 109 | 92 | 83 | 83 | 84 |
| Payable days | 190 | — | 234 | 214 | 181 | 138 | 139 | 138 |
| NWC days | -16 | — | -4 | -1 | -6 | 35 | 27 | 33 |
| Leverage | ||||||||
| Current ratio | 1.15 | — | 1.23 | 1.23 | 1.23 | 1.57 | 1.47 | 1.45 |
| Debt to EBITDA | 0.37 | — | 0.63 | 0.48 | 0.27 | 0.27 | 0.32 | 0.46 |
| Debt to equity | 0.15 | — | 0.18 | 0.15 | 0.15 | 0.11 | 0.11 | 0.16 |
| Interest coverage | 2.2 | 1.8 | 2.4 | 3.3 | 3.8 | 4 | 3.7 | 4.2 |
| Asset turnover | 1.6 | — | 1.28 | 1.4 | 1.73 | 1.68 | 1.63 | 1.66 |
| Return ratios | ||||||||
| Return on assets % | 3.1% | — | 2.9% | 3.8% | 7.9% | 9.2% | 7.4% | 7.4% |
| Return on capital employed % | 34.7% | — | 20.6% | 26.6% | 53.4% | 46.3% | 33.5% | 33.8% |
| Return on equity % | 13.1% | — | 10.6% | 14.7% | 29.3% | 22.3% | 18.5% | 18.9% |
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.