Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.3% | 38.2% | 43.8% | 36.8% | 29.7% | 32.1% | 34.4% | 32.6% |
| EBITDA margin % | 13.5% | 12.1% | 17% | 10.5% | 2.5% | 6.1% | 11.4% | 10.2% |
| EBIT margin % | 10.7% | 9.2% | 14% | 8.3% | -0.5% | 2.4% | 8.8% | 7.4% |
| PAT margin % | 6.2% | 8.1% | 11.6% | 6% | -1.4% | 9.5% | 6.5% | 6.5% |
| Working capital | ||||||||
| Receivable days | 68 | 71 | 101 | 78 | 75 | 103 | 90 | 92 |
| Inventory days | 130 | 61 | 106 | 115 | 70 | 97 | 77 | 134 |
| Payable days | 65 | 50 | 6 | 89 | 76 | 83 | 105 | 127 |
| NWC days | 133 | 82 | 200 | 104 | 69 | 118 | 62 | 99 |
| Leverage | ||||||||
| Current ratio | 1.84 | 2.04 | 1.81 | 1.74 | 1.14 | 1.24 | 1.35 | 1.24 |
| Debt to EBITDA | 1.44 | 0.47 | 0.92 | 1.23 | 11.64 | 5.3 | 1.28 | 2.02 |
| Debt to equity | 0.29 | 0.08 | 0.19 | 0.21 | 0.41 | 0.34 | 0.2 | 0.23 |
| Interest coverage | 6.1 | 7.5 | 22 | 10.9 | 0.5 | 1.8 | 5.6 | 7.7 |
| Asset turnover | 0.95 | 1.03 | 0.84 | 1.04 | 0.84 | 0.67 | 0.89 | 0.72 |
| Return ratios | ||||||||
| Return on assets % | 5.9% | 8.3% | 9.7% | 6.2% | -1.2% | 6.3% | 5.8% | 4.7% |
| Return on capital employed % | 13.9% | 11.7% | 17.4% | 13.1% | 1.4% | 4.1% | 13.9% | 11.2% |
| Return on equity % | 9.5% | 11.3% | 14.2% | 9.6% | -2% | 10.1% | 8.9% | 7.3% |
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.