Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 47.6% | 47.1% | 41.5% | 68.4% | 71.5% | 72.5% | 72.6% | 74.1% |
| EBITDA margin % | 12.2% | 14.5% | 10.4% | 23.3% | 25.8% | 24.7% | 24.9% | 25% |
| EBIT margin % | 8.6% | 9.5% | 5.6% | 17.3% | 20.2% | 19.2% | 19.4% | 19.6% |
| PAT margin % | 3.6% | 4.8% | 1.2% | 10.9% | 16.6% | 13.9% | 15.8% | 16% |
| Working capital | ||||||||
| Receivable days | 40 | 38 | 48 | 49 | 46 | 41 | 36 | 33 |
| Inventory days | 47 | 52 | 14 | 28 | 19 | 22 | 21 | 22 |
| Payable days | 1 | 64 | 58 | 124 | 124 | 138 | 134 | 144 |
| NWC days | 86 | 26 | 4 | -46 | -59 | -76 | -77 | -89 |
| Leverage | ||||||||
| Current ratio | 1.23 | 1.13 | 2 | 2.91 | 2.53 | 2.68 | 2.44 | 1.74 |
| Debt to EBITDA | 3 | 2.37 | 2.41 | 1.43 | 1.05 | 1.09 | 0.87 | 0.78 |
| Debt to equity | 0.79 | 1 | 0.44 | 0.33 | 0.25 | 0.25 | 0.2 | 0.18 |
| Interest coverage | 2.7 | 2.2 | 1.5 | 4.5 | 6.1 | 6.3 | 7.6 | 9.1 |
| Asset turnover | 0.99 | 0.86 | 0.94 | 0.59 | 0.61 | 0.59 | 0.61 | 0.63 |
| Return ratios | ||||||||
| Return on assets % | 3.6% | 4.1% | 1.1% | 6.4% | 10.1% | 8.1% | 9.7% | 10% |
| Return on capital employed % | 11% | 12% | 6.2% | 12.7% | 15.6% | 15.3% | 16.9% | 17.5% |
| Return on equity % | 7.8% | 14.1% | 2% | 10.9% | 15.7% | 13.1% | 14.8% | 15% |
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.