Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.8% | 38.2% | 40.9% | 31.8% | 32.4% | 40.2% | 35.6% | 38.1% |
| EBITDA margin % | 12% | 12.6% | 17.3% | 9.8% | 12.2% | 17.7% | 12.1% | 14.5% |
| EBIT margin % | 8.4% | 7% | 11.3% | 4.1% | 7% | 12.4% | 6.9% | 9.8% |
| PAT margin % | 4.8% | 4.6% | 6.2% | 1.8% | 3.4% | 6.6% | 3.5% | 9.3% |
| Working capital | ||||||||
| Receivable days | 23 | 15 | 228 | 38 | 34 | 39 | 46 | 43 |
| Inventory days | 93 | 97 | 1,092 | 90 | 71 | 81 | 94 | 93 |
| Payable days | 1 | 1 | 1,015 | 102 | 76 | 74 | 69 | 62 |
| NWC days | 115 | 110 | 305 | 27 | 29 | 45 | 70 | 73 |
| Leverage | ||||||||
| Current ratio | 1.33 | 0.71 | 1.13 | 0.91 | 0.96 | 1.13 | 1.14 | 1.24 |
| Debt to EBITDA | 1.85 | 3.11 | 21.37 | 3.07 | 1.93 | 1.03 | 1.32 | 0.81 |
| Debt to equity | 0.36 | 0.56 | 0.46 | 0.46 | 0.41 | 0.3 | 0.27 | 0.2 |
| Interest coverage | 8.3 | 3.6 | 3.8 | 1.9 | 2.7 | 5.7 | 3.8 | 6.8 |
| Asset turnover | 0.91 | 0.67 | 0.06 | 0.71 | 0.86 | 0.88 | 0.89 | 0.97 |
| Return ratios | ||||||||
| Return on assets % | 4.3% | 3.1% | 0.4% | 1.3% | 2.9% | 5.8% | 3.1% | 9% |
| Return on capital employed % | 10.9% | 6.9% | 1.1% | 5% | 8.7% | 15.6% | 9.3% | 15% |
| Return on equity % | 7.7% | 6.6% | 0.8% | 2.7% | 5.8% | 11.1% | 5.9% | 15.6% |
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.