Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 45.7% | 32.6% | 49.3% | 52% | 51.8% | 52.9% |
| EBITDA margin % | 16.3% | 9.9% | 17.1% | 14.6% | 15.3% | 16.5% |
| EBIT margin % | 11.7% | 6.1% | 12.3% | 9.6% | 10.5% | 11.5% |
| PAT margin % | 3.8% | 3.3% | 7.9% | 6.2% | 7.6% | 8.5% |
| Working capital | ||||||
| Receivable days | 50 | 37 | 43 | 30 | 34 | 31 |
| Inventory days | 191 | 146 | 218 | 208 | 181 | 196 |
| Payable days | 161 | 81 | 104 | 105 | 108 | 98 |
| NWC days | 81 | 102 | 157 | 133 | 107 | 130 |
| Leverage | ||||||
| Current ratio | 1.46 | 1.59 | 1.64 | 2.4 | 2.19 | 2.37 |
| Debt to EBITDA | 1.17 | 1.34 | 0.71 | 0.12 | 0 | 0.12 |
| Debt to equity | 0.43 | 0.41 | 0.33 | 0.04 | 0 | 0.04 |
| Interest coverage | 5.1 | 4.5 | 6.5 | 6.2 | 9.7 | 9.3 |
| Asset turnover | 1.04 | 1.37 | 1.26 | 1.32 | 1.22 | 1.21 |
| Return ratios | ||||||
| Return on assets % | 3.9% | 4.5% | 10% | 8.2% | 9.3% | 10.2% |
| Return on capital employed % | 20.8% | 16.5% | 28.5% | 18.6% | 20.3% | 21.9% |
| Return on equity % | 8.6% | 10.1% | 21.2% | 13.7% | 16% | 16.6% |
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.