Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 96.7% | 50.8% | 54.2% | 48.2% | 46.3% | 45.1% | 48.7% | 52% |
| EBITDA margin % | 19.1% | 20.2% | 26% | 13.1% | 13.5% | 20.9% | 23.4% | 27.7% |
| EBIT margin % | 15.7% | 16.7% | 23% | 9.4% | 10.1% | 18.5% | 20.7% | 25.1% |
| PAT margin % | 12.5% | 14.1% | 19.7% | 12.9% | 9.6% | 18.4% | 16% | 21.6% |
| Working capital | ||||||||
| Receivable days | 156 | — | 137 | 128 | 130 | 129 | 140 | 138 |
| Inventory days | 3,612 | — | 244 | 210 | 219 | 148 | 154 | 161 |
| Payable days | 30 | — | 104 | 104 | 117 | 112 | 116 | 125 |
| NWC days | 3,738 | — | 277 | 234 | 232 | 166 | 177 | 174 |
| Leverage | ||||||||
| Current ratio | 1.55 | — | 1.83 | 2.35 | 1.46 | 1.38 | 1.2 | 1.27 |
| Debt to EBITDA | 1.93 | — | 0.96 | 1.23 | 2.39 | 1.27 | 1.81 | 1.35 |
| Debt to equity | 0.4 | — | 0.25 | 0.11 | 0.23 | 0.14 | 0.23 | 0.18 |
| Interest coverage | 16 | 25.9 | 147.2 | 102.1 | 15 | 14.2 | 11.3 | 15.9 |
| Asset turnover | 0.68 | — | 0.68 | 0.52 | 0.51 | 0.42 | 0.4 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | 8.4% | — | 13.4% | 6.7% | 4.9% | 7.8% | 6.3% | 8.2% |
| Return on capital employed % | 19.5% | — | 25.7% | 10.2% | 9.7% | 13.5% | 12.6% | 15.4% |
| Return on equity % | 13.5% | — | 19.5% | 8.5% | 6.9% | 9.9% | 8.5% | 10.6% |
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.