Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 24.4% | 26.8% | 25.7% | 25.5% | 29.5% | 30.5% | 29.4% | 35% |
| EBITDA margin % | 18.4% | 19.8% | 19% | 18.8% | 21.6% | 22.6% | 23% | 28% |
| EBIT margin % | 16.1% | 15.8% | 14.7% | 15.1% | 18.2% | 19.5% | 20.3% | 25.4% |
| PAT margin % | 11.1% | 5.7% | 5.1% | 6% | 6.4% | 8.5% | 10.2% | 15.8% |
| Working capital | ||||||||
| Receivable days | — | — | 305 | 205 | 180 | 231 | 155 | 216 |
| Inventory days | — | — | 546 | 597 | 594 | 612 | 552 | 558 |
| Payable days | — | — | 189 | 258 | 195 | 234 | 255 | 262 |
| NWC days | — | — | 661 | 544 | 579 | 610 | 452 | 513 |
| Leverage | ||||||||
| Current ratio | — | — | 2.07 | 1.89 | 1.98 | 1.98 | 1.74 | 1.9 |
| Debt to EBITDA | — | — | 2.99 | 2.52 | 2.2 | 2.36 | 2.25 | 2.27 |
| Debt to equity | — | — | 0.38 | 0.36 | 0.37 | 0.38 | 0.48 | 0.37 |
| Interest coverage | 3.4 | 2.7 | 1.9 | 2.2 | 2.4 | 2.5 | 3.5 | 5.7 |
| Asset turnover | — | — | 0.38 | 0.41 | 0.43 | 0.39 | 0.45 | 0.33 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.9% | 2.4% | 2.8% | 3.3% | 4.5% | 5.3% |
| Return on capital employed % | — | — | 9.5% | 11.3% | 14.7% | 15.4% | 18.8% | 19.3% |
| Return on equity % | — | — | 3.4% | 4.6% | 5% | 6.1% | 9.4% | 9.1% |
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.