Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.1% | 44.9% | 46.6% | 42.8% | 45.8% | 48.3% | 43.3% | 43.4% |
| EBITDA margin % | 9.3% | 9.3% | 7.5% | 8.2% | 9.4% | 10.7% | 9.4% | 9.5% |
| EBIT margin % | 8.1% | 7.8% | 5.4% | 6.6% | 7.9% | 9.2% | 8.1% | 8.4% |
| PAT margin % | 2.7% | 3.7% | 0.4% | 2.3% | 2.4% | 2.7% | 2.5% | 3% |
| Working capital | ||||||||
| Receivable days | 43 | 49 | 72 | 58 | 46 | 57 | 59 | 62 |
| Inventory days | 413 | 470 | 694 | 537 | 512 | 595 | 455 | 384 |
| Payable days | 84 | 50 | 88 | 100 | 93 | 150 | 139 | 113 |
| NWC days | 371 | 469 | 678 | 494 | 466 | 502 | 374 | 333 |
| Leverage | ||||||||
| Current ratio | 1.32 | 1.32 | 1.57 | 1.64 | 1.54 | 1.38 | 1.44 | 1.49 |
| Debt to EBITDA | 5.9 | 7.4 | 13.18 | 9.98 | 7.3 | 6.81 | 5.72 | 4.95 |
| Debt to equity | 1.24 | 1.37 | 1.34 | 1.42 | 1.43 | 1.44 | 1.16 | 1.19 |
| Interest coverage | 1.9 | 2.1 | 1.1 | 1.7 | 1.6 | 1.6 | 1.7 | 2 |
| Asset turnover | 0.85 | 0.75 | 0.52 | 0.63 | 0.74 | 0.66 | 0.79 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | 2.3% | 2.8% | 0.2% | 1.4% | 1.8% | 1.8% | 2% | 2.7% |
| Return on capital employed % | 17.2% | 15.1% | 7.2% | 9.5% | 12.3% | 14% | 16.1% | 19% |
| Return on equity % | 6% | 7.4% | 0.5% | 3.9% | 5.1% | 5.2% | 5.3% | 7.6% |
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.