Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 68.2% | 67.9% | 65.4% | 71.2% | 65.8% | 62.8% | 63.2% | 70.1% |
| EBITDA margin % | 18.2% | 17.3% | 19.1% | 24.8% | 20.6% | 17.6% | 16.9% | 18.7% |
| EBIT margin % | 14.2% | 12.2% | 13.8% | 19.8% | 16.7% | 13.7% | 12.9% | 13% |
| PAT margin % | 6.7% | 6.2% | 5.8% | 11.2% | 9.4% | 8.1% | 9% | 7.1% |
| Working capital | ||||||||
| Receivable days | 49 | 52 | 58 | 45 | 46 | 45 | 53 | 56 |
| Inventory days | 269 | 305 | 277 | 279 | 270 | 218 | 240 | 294 |
| Payable days | 253 | 250 | 278 | 247 | 225 | 196 | 225 | 222 |
| NWC days | 65 | 107 | 57 | 76 | 91 | 68 | 68 | 128 |
| Leverage | ||||||||
| Current ratio | 0.92 | 0.94 | 1.02 | 1.32 | 1.23 | 1.13 | 1.2 | 1.58 |
| Debt to EBITDA | 2.72 | 3.04 | 2.67 | 1.53 | 1.64 | 2.52 | 3.44 | 2.31 |
| Debt to equity | 1.13 | 1.02 | 0.82 | 0.65 | 0.62 | 0.77 | 0.91 | 0.5 |
| Interest coverage | 3.2 | 2.3 | 2.6 | 5.4 | 6.7 | 4.5 | 4.9 | 3.3 |
| Asset turnover | 0.77 | 0.67 | 0.63 | 0.81 | 0.85 | 0.75 | 0.63 | 0.61 |
| Return ratios | ||||||||
| Return on assets % | 5.1% | 4.1% | 3.7% | 9.1% | 8% | 6.1% | 5.7% | 4.3% |
| Return on capital employed % | 19.1% | 13.6% | 14.1% | 23.9% | 23.2% | 16.9% | 13.3% | 11.7% |
| Return on equity % | 15.2% | 11.9% | 9.3% | 19.2% | 17.3% | 13.9% | 14.2% | 8.2% |
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.