Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 29.2% | 30.2% | 26.9% | 24.2% | 27.8% | 28.6% | 29.1% |
| EBITDA margin % | 10.8% | 11.4% | 14.3% | 11.9% | 7.4% | 9.8% | 9.2% | 7.7% |
| EBIT margin % | 8.1% | 8.3% | 10.9% | 8.6% | 4.3% | 6.7% | 5% | 1.9% |
| PAT margin % | 6.6% | 7% | 8.6% | 6.4% | 2.6% | 4.3% | 3.3% | 1.4% |
| Working capital | ||||||||
| Receivable days | 36 | 53 | 44 | 33 | 26 | 19 | 19 | 29 |
| Inventory days | 59 | 104 | 79 | 84 | 90 | 83 | 87 | 100 |
| Payable days | 41 | 86 | 49 | 35 | 62 | 60 | 70 | 74 |
| NWC days | 54 | 71 | 74 | 82 | 54 | 42 | 36 | 54 |
| Leverage | ||||||||
| Current ratio | 2.89 | 2.07 | 2.09 | 2.25 | 1.67 | 1.09 | 1.94 | 1.46 |
| Debt to EBITDA | 2.47 | 1.67 | 0.85 | 0.41 | 0.64 | 0.64 | 0.71 | 1.34 |
| Debt to equity | 0.42 | 0.25 | 0.18 | 0.1 | 0.1 | 0.11 | 0.08 | 0.11 |
| Interest coverage | 7 | 7.2 | 14.9 | 16.7 | 4.7 | 13.7 | 5.6 | 3.4 |
| Asset turnover | 0.93 | 0.85 | 1.05 | 1.44 | 1.38 | 1.19 | 0.88 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | 6.1% | 5.9% | 9% | 9.1% | 3.6% | 5.2% | 2.9% | 1.1% |
| Return on capital employed % | 20.3% | 13.6% | 18.2% | 18.1% | 9.4% | 13.2% | 7.1% | 2.8% |
| Return on equity % | 10.4% | 9.3% | 12.7% | 12.3% | 5.2% | 7.4% | 3.8% | 1.4% |
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.