Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 28.3% | 36.4% | 32.9% | 26.5% | 28.3% | 29.4% | 27.5% | 30% |
| EBITDA margin % | 3.6% | 7% | 7.1% | 6% | 8% | 7.6% | 7.8% | 8.2% |
| EBIT margin % | 1.6% | 3.4% | 3.1% | 3% | 5.7% | 5% | 5.3% | 5.7% |
| PAT margin % | -0.4% | 0.8% | -0.2% | 1.7% | 3.8% | 3.4% | 3.8% | 4.3% |
| Working capital | ||||||||
| Receivable days | — | — | — | — | 83 | 80 | 91 | 77 |
| Inventory days | — | — | — | — | 42 | 42 | 38 | 39 |
| Payable days | — | — | — | — | 91 | 88 | 78 | 59 |
| NWC days | — | — | — | — | 34 | 34 | 50 | 57 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | 1.27 | 1.36 | 1.44 | 1.65 |
| Debt to EBITDA | — | — | — | — | 1.49 | 1.45 | 1.19 | 0.69 |
| Debt to equity | — | — | — | — | 0.44 | 0.36 | 0.29 | 0.16 |
| Interest coverage | 0.9 | 1.2 | 1.1 | 2 | 4.2 | 4.1 | 5 | 6.5 |
| Asset turnover | — | — | — | — | 1.58 | 1.55 | 1.53 | 1.58 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | — | 6% | 5.3% | 5.8% | 6.8% |
| Return on capital employed % | — | — | — | — | 21.5% | 21.5% | 18.2% | 19% |
| Return on equity % | — | — | — | — | 14.2% | 11.2% | 11.8% | 12.3% |
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.