Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.3% | 42.2% | 29% | 28.7% | 35.7% | 39.1% | 43.9% | 49.2% |
| EBITDA margin % | 10.4% | 18.2% | 10.9% | 11.8% | 18.5% | 21.4% | 25.5% | 28.1% |
| EBIT margin % | 0.4% | 12.7% | 7% | 8.9% | 15.6% | 18.7% | 22.2% | 24.3% |
| PAT margin % | 4.4% | 10.3% | 4.1% | 5.5% | 9.5% | 12.5% | 13.7% | 15.4% |
| Working capital | ||||||||
| Receivable days | — | — | — | 101 | 127 | 203 | 274 | 217 |
| Inventory days | — | — | — | 280 | 279 | 335 | 379 | 378 |
| Payable days | — | — | — | 37 | 38 | 58 | 47 | 72 |
| NWC days | — | — | — | 344 | 368 | 479 | 605 | 523 |
| Leverage | ||||||||
| Current ratio | — | — | — | 2.31 | 2.59 | 2.87 | 2.42 | 3.1 |
| Debt to EBITDA | — | — | — | 0.69 | 1.13 | 1.17 | 1.57 | 0.89 |
| Debt to equity | — | — | — | 0.1 | 0.26 | 0.23 | 0.38 | 0.22 |
| Interest coverage | 2.9 | 8.9 | 2.5 | 3.7 | 4.5 | 6.1 | 4.4 | 5.5 |
| Asset turnover | — | — | — | 0.77 | 0.77 | 0.62 | 0.57 | 0.59 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 4.2% | 7.3% | 7.7% | 7.8% | 9.1% |
| Return on capital employed % | — | — | — | 11.4% | 19.3% | 20.5% | 22.3% | 22.7% |
| Return on equity % | — | — | — | 6.8% | 11.7% | 11.7% | 13.2% | 13.8% |
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.