Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.7% | 48.7% | 51.6% | 49.3% | 46.1% | 52% | 51.5% | 50.1% |
| EBITDA margin % | 9.8% | 10.3% | 10.3% | 10.1% | 9% | 10.4% | 9.9% | 9.3% |
| EBIT margin % | 6.6% | 6.8% | 5% | 7.2% | 6.3% | 7.4% | 7% | 6.3% |
| PAT margin % | 3.1% | 2.6% | 2.1% | 0.8% | 4.5% | 4.3% | 3.2% | 4.2% |
| Working capital | ||||||||
| Receivable days | — | — | 75 | 52 | 40 | 49 | 54 | 52 |
| Inventory days | — | — | 166 | 193 | 129 | 184 | 174 | 161 |
| Payable days | — | — | 220 | 204 | 96 | 134 | 146 | 184 |
| NWC days | — | — | 21 | 42 | 74 | 99 | 83 | 30 |
| Leverage | ||||||||
| Current ratio | — | — | 1.06 | 1.05 | 1.05 | 1.06 | 1.03 | 0.95 |
| Debt to EBITDA | — | — | 3.66 | 2.04 | 1.95 | 1.69 | 1.8 | 1.83 |
| Debt to equity | — | — | 0.58 | 0.51 | 0.41 | 0.36 | 0.38 | 0.4 |
| Interest coverage | 2.5 | 2.4 | 1.4 | 3.6 | 3.5 | 3.8 | 3.8 | 3.5 |
| Asset turnover | — | — | 0.69 | 1.01 | 1.21 | 1.06 | 1.04 | 1 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.4% | 0.8% | 5.4% | 4.5% | 3.3% | 4.2% |
| Return on capital employed % | — | — | 7% | 14.8% | 14% | 15% | 15.3% | 13.2% |
| Return on equity % | — | — | 3.2% | 2% | 10.5% | 8.8% | 6.7% | 9.7% |
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.