Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.3% | 41% | 45.3% | 37.5% | 29.6% | 32.6% | 41.1% | 27.3% |
| EBITDA margin % | 27% | 23.6% | 25.9% | 19.4% | 10.9% | 8.8% | 14.1% | 10.7% |
| EBIT margin % | 22.2% | 18% | 19.4% | 14.7% | 4% | 2.4% | 8.8% | 7% |
| PAT margin % | 15.5% | 15.9% | 15.7% | 11.8% | 3% | 4% | 7.1% | 5.8% |
| Working capital | ||||||||
| Receivable days | 50 | 69 | 84 | 60 | 93 | 115 | 113 | 67 |
| Inventory days | 25 | 57 | 63 | 64 | 45 | 48 | 51 | 32 |
| Payable days | — | 77 | 61 | 58 | 41 | 66 | 71 | 43 |
| NWC days | — | 49 | 86 | 66 | 96 | 97 | 93 | 56 |
| Leverage | ||||||||
| Current ratio | 1.98 | 2.15 | 2.52 | 2.68 | 2.79 | 2.73 | 2.71 | 2.83 |
| Debt to EBITDA | 0.19 | 0.21 | 0.26 | 0.15 | 0.67 | 0.86 | 0.38 | 0.09 |
| Debt to equity | 0.07 | 0.05 | 0.06 | 0.03 | 0.07 | 0.07 | 0.06 | 0.01 |
| Interest coverage | 28.4 | 47.8 | 81 | 75.3 | 7.9 | 19.7 | 36.4 | 33.2 |
| Asset turnover | 0.99 | 0.79 | 0.7 | 0.94 | 0.8 | 0.74 | 0.82 | 1.16 |
| Return ratios | ||||||||
| Return on assets % | 15.3% | 12.5% | 11% | 11.1% | 2.4% | 2.9% | 5.8% | 6.7% |
| Return on capital employed % | 28.8% | 19.1% | 17.4% | 18.5% | 4.3% | 5.2% | 10.2% | 11.3% |
| Return on equity % | 20.9% | 16.4% | 13.8% | 13.9% | 3% | 3.8% | 7.6% | 8.4% |
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.